The Assumption of Completeness Means That

question 53

Multiple Choice

The assumption of completeness means that

• A) the consumer can rank all possible consumption bundles.
• B) more of a good is always better.
• C) the consumers can rank all affordable consumption bundles.
• D) all preferences conditions are met.

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Definitions:

Selective Retention

The psychological process whereby people more easily remember information that is consistent with their beliefs, values, and previous experiences, often leading to biased recollection.

Selective Exposure

The tendency of individuals to preferentially seek out and attend to information that conforms to their existing beliefs and values.

Selective Identification

The process of targeting and engaging specific segments of an audience or market based on particular criteria for more effective marketing.

Personality

The combination of characteristics, traits, and behaviors that form an individual's distinctive character and influence their interactions and reactions.