There Are Five Stages in the Purchase Decision Process

question 312

Multiple Choice

There are five stages in the purchase decision process.The first stage is __________.

• A)information search
• B)purchase decision
• C)alternative evaluation
• D)postpurchase behavior
• E)problem recognition

---

Definitions:

Market Power

The ability of a company or entity to influence the price and production levels in a market.

Monopolists

Entities with exclusive control over the supply of a particular good or service, setting prices and output levels.

Output Effect

The change in total output caused by a new price level, in the context of supply and demand.

Total Revenue

Total revenue is the full amount of money received by a company for its goods or services before any expenses are subtracted.