Examlex
Most men hate shopping for clothes and use product price as an indicator for quality. Many believe expensive products as a guarantee for good quality. In making a buying decision based on price-quality heuristic, a consumer makes use of _____.
Free Market Capitalism
An economic system where prices for goods and services are determined by the open market and consumers, with minimal governmental intervention.
Adam Smith
An 18th-century Scottish economist and philosopher known as the father of modern economics, best known for his theories on free markets and the invisible hand.
Morals
Principles or habits with respect to right or wrong conduct, often influenced by cultural, religious, or personal beliefs.
Rule Deontology
An ethical theory that stresses the importance of following universal rules or duties in ethical decision-making, regardless of the consequences.
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