When Consumers Are Making Do with Less Expensive Products and Shopping

question 101

Multiple Choice

When consumers are making do with less expensive products and shopping more selectively, manufacturers and retailers must focus on the ____ of their products.

• A)price
• B)quality
• C)availability
• D)value
• E)image

Understand the concept of organizational culture and its significance in shaping member behaviors.

Identify the key questions and issues related to external adaptation in organizations.

Recognize the importance of internal adaptation for collective identity and commitment within an organization.

Distinguish between subcultures and countercultures and their roles in an organizational context.

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Definitions:

Nonexcludable

A characteristic of goods where it is difficult or impossible to prevent people from using the good once it has been provided.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they are available to every individual without diminishing availability to others, such as national defense, public parks, and clean air.

Marginal Social Benefit

The additional benefit that society receives from the consumption of an additional unit of a good or service.

Marginal Social Cost

The total cost to society of producing one additional unit of a good or service, considering both the costs borne by the producer and any costs or benefits to third parties (externalities).