Of the Different Psychological Methods That Negotiators Can Employ to Build

question 11

Multiple Choice

Of the different psychological methods that negotiators can employ to build trust with the counterparty,the use of which principle can make a counterparty feel obligated to return in kind what the negotiator has offered or given to them?

• A)The propinquity effect
• B)Functional distance
• C)The reciprocity principle
• D)The mere-exposure effect

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Definitions:

Price Elasticity of Demand

Gauging the sensitivity of the amount of a product consumers want to buy when its price changes.

Uniqueness

Refers to the quality of being the only one of its kind; distinctiveness.

Consumer's Budget

is the total amount of income available to an individual or household to spend on goods and services or to save, after taxes.

Elastic Demand

A situation where the quantity demanded of a product changes significantly in response to changes in the product's price.