The Fact That Millions of Consumers Are Using Online Search

question 145

Multiple Choice

The fact that millions of consumers are using online search engines for comparison shopping has:

• A) reduced demand.
• B) increased price elasticity of demand.
• C) reduced the income effect.
• D) reduced price elasticity of demand.
• E) increased the income effect.

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Definitions:

Operant Conditioning

A method of learning that employs rewards and punishments for behavior, where an association is made between a behavior and a consequence for that behavior.

Observational Learning

A learning process where individuals change their behaviors or acquire new information by watching the actions of others.

Classical Conditioning

The learning method that occurs through repeated pairings of two stimuli, resulting in a response that at first is triggered by the second stimulus but in time is triggered by the first stimulus.

Operant Conditioning

The act of learning in which the intensity of a behavior is transformed by the application of rewards or punishments.