Many Consumers Shop at Walmart Every Week or So Even

question 42

Multiple Choice

Many consumers shop at Walmart every week or so even though they don't really like shopping there. They don't have any real attachment to the store, it's just that they don't want to pay higher prices elsewhere. Which term best describes this phenomenon of repeatedly shopping at Walmart without a commitment or attachment to the store?

• A) brand loyalty
• B) brand inertia
• C) brand equity
• D) brand habituation

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Definitions:

Demand Curve

A graph showing the relationship between the price of a good and the amount of the good that consumers are willing to purchase at that price.

Deadweight Loss

The reduction in economic efficiency that happens when equilibrium is not reached or is unattainable for a specific good or service.

Import Tariff

A tax imposed by a government on goods and services imported into its country to protect domestic industries from foreign competition.

Supply and Demand

Economic model of price determination in a market, showing the relationship between the quantity of goods that producers wish to sell at various prices and the quantity consumers wish to buy.