Alex's Favourite Style of Boot, Which Has Remained Unchanged for Nearly

question 42

Multiple Choice

Alex's favourite style of boot, which has remained unchanged for nearly twenty years, was recently redesigned by the company.Over the years Alex has purchased many pairs of this boot, and he does not like the design or feel of the new version.He contacted the company, left angry messages on their social media accounts and tried to purchase the previous style on second-hand websites.In this example, which of the following kinds of degree of commitment would be most closely associated with Alex and his attitudes?

• A)Compliance
• B)Identification
• C)Information acquisition
• D)Internalisation

---

Definitions:

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive, measured above the supply curve.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, reaching a state of balance where there are no surplus or shortage.

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive, reflecting gains from trade.

Price Ceiling

A government-imposed limit on the maximum price that can be charged for a product or service.