What Are the Two Major Types of Rules That Consumers

question 98

Multiple Choice

What are the two major types of rules that consumers use when selecting products?

• A) primary and secondary
• B) utilitarian and hedonic
• C) compensatory and noncompensatory
• D) feature-based and attribute-based

Understand how to use information volunteered by an applicant that may otherwise be off-limits.

Recognize the importance of follow-up with all interviewees and how to communicate post-interview decisions.

Learn how to assess applicant fit within the existing team and organizational culture.

Understand strategies to minimize bias and the halo effect in decision-making during the interview process.

---

Definitions:

Socially Optimal Level

The socially optimal level refers to an outcome in production or activity where the social benefits are maximized and social costs minimized, often achieved through proper regulation or market mechanisms.

Output

The amount of goods or services produced by a company, industry, or economic system.

Industry

A group of companies or businesses that produce similar goods or services and compete within the same market.

Correction

A term often used in finance and economics, indicating a short-term decline in the price of assets or the broader market to adjust for overvaluation.