Matt Is Unhappy with the Luisteren Music Player That He

question 12

Multiple Choice

Matt is unhappy with the Luisteren music player that he bought recently. He mentions it to his friend Christine and suggests that she consider other brands. In the given scenario, Matt's behavior illustrates _____.

• A) positive disconfirmation
• B) negative word-of-mouth
• C) confirmatory bias
• D) switching behavior

Apply the principles of opportunity cost and comparative advantage to real-life scenarios.

Understand the importance of specialization and exchange in improving efficiency.

Recognize how opportunity costs influence everyday decisions, including time management.

Grasp the concept of sunk costs and their irrelevance to future economic decisions.

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Definitions:

Debit Memo

A document issued by a seller of goods or services to a buyer, reducing the amount the buyer owes under the original invoice.

General Ledger

An exhaustive list of every financial transaction made by a company during its history, categorized by accounts.

Canceled Checks

Checks that have been paid by the bank and voided, serving as proof that payment was made.

Negotiable

Capable of being bought, sold, or transferred to another party through endorsement or delivery.