$\text { 1. What things are most important to you when you decide to eat out and go to a fast-food restaurant? }$

question 53

Multiple Choice

$\text { 1. What things are most important to you when you decide to eat out and go to a fast-food restaurant? }$
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________
-Consider Figure 7-4: Question 1 above, which was part of a Wendy's survey that assessed fast-food restaurant preferences among present and prospective consumers. Question 1 illustrates which type of question format?

• A)dichotomous
• B)open-ended
• C)close-ended
• D)attitudinal
• E)semantic differential

Recognize the use of reputation and past experience to mitigate asymmetric information.

Analyze the impact of asymmetric information on market quality perception.

Comprehend the role of credit histories in identifying high-risk parties.

Identify the causes of lower prices for used goods in markets with information asymmetry.

---

Definitions:

Document

A piece of written, printed, or electronic matter that provides information or evidence or that serves as an official record.

Urgent Care Center

A medical facility focused on providing immediate, non-emergency care for acute illness or injury.

Injury

Damage to the body caused by an external force, which can be physical or psychological.

Abdomen

The part of the body containing digestive and other vital organs, bounded by the diaphragm above and the pelvis below.