Which of the Following Is a Common Mistake Consumers Commit

question 49

Multiple Choice

Which of the following is a common mistake consumers commit when they make decisions?

• A) They take into account non-monetary opportunity costs but ignore monetary costs.
• B) They are overly pessimistic about their future behaviour.
• C) They fail to ignore sunk costs.
• D) They sometimes value fairness too much.

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Definitions:

Coercive Power

The ability to control others through the fear of punishment or the promise of sanctions.

Conformity

The act of matching attitudes, beliefs, and behaviors to group norms or societal standards.

Resistance

Opposition or pushback encountered when an organization attempts to implement changes, often stemming from employees' fear, misunderstanding, or distrust.

Connection Power

The influence one gains over others through the ability to establish and leverage personal and professional relationships.