The Recency Effect Is Most Common When

question 36

Multiple Choice

The recency effect is most common when:

• A)making an evaluation involving complex information.
• B)the decision maker has considerable experience in that situation.
• C)the decision maker believes most employees are above average.
• D)evaluating someone who is easily identified with a visible demographic group.
• E)the decision maker has a strong learning orientation.

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Definitions:

Necessity

A good or service that is essential for living and is deemed indispensable.

Few Substitutes

A market condition where there are limited alternative products or services available to consumers, often leading to higher prices.

Price-Elastic

A descriptor for goods or services whose demand significantly changes with a change in price.

Complementary Goods

Complementary Goods are products or services that are typically consumed together, where the demand for one increases the demand for the other.