Many Consumers Correlate Price with Quality,thinking That the Higher the Price,the

question 147

Multiple Choice

Many consumers correlate price with quality,thinking that the higher the price,the better the quality.For these consumers,this is a:

• A) compensatory decision rule.
• B) noncompensatory decision rule.
• C) decision heuristic.
• D) social factor.
• E) temporal factor.

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Definitions:

Assets Distribution

The process of allocating a company's or estate's assets to creditors, shareholders, or heirs according to legal agreements or laws.

Creditors

Individuals or institutions to whom money is owed by debtors or borrowers.

Loan

A sum of money that is borrowed, often from a bank, which is expected to be paid back with interest.

Personal Liability

The legal responsibility of an individual to bear financial costs associated with damages or legal proceedings.