When a Consumer Purchases an Item That She Previously Bought

question 56

Multiple Choice

When a consumer purchases an item that she previously bought and found acceptable,it would be considered an example of _____________.​

• A)​modified rebuying
• B)​straight rebuying
• C)​new-task buying
• D)​reciprocity
• E)​vendor analysis

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Definitions:

Base Year

A reference year against which economic or financial data is compared to measure economic performance or inflation.

Prices

Monetary values assigned to goods and services, which are determined by supply and demand dynamics in the market.

Misery Index

An economic indicator created by summing the unemployment rate and the inflation rate, intended to measure the health of an economy.

Current

Relevant to the present time or most recent; also, a flow of electricity or the flow of water in a river or sea.