Behavioural Economics Helps Explain Why Customers ________ at Big W

question 62

Multiple Choice

Behavioural economics helps explain why customers ________ at Big W.

• A)favoured the policy of everyday low prices and not sales and coupons
• B)favoured sales and coupons and not the policy of everyday low prices
• C)were equally happy with sales and coupons and the policy of everyday low prices
• D)responded negatively to both sales and coupons and the policy of everyday low prices

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Definitions:

Differentiation Principle

In psychology, this refers to the process through which individuals develop a stronger sense of self by distinguishing themselves from others.

Opposition Principle

Jung’s idea that conflict between opposing processes or tendencies is necessary to generate psychic energy.

Equivalence Principle

In physics, it states that gravitational and inertial forces are of a similar nature and often indistinguishable.

Entropy

In the context of thermodynamics, entropy is a measure of disorder or randomness in a system. In information theory, it represents the degree of uncertainty or unpredictability in data.