When Shopping You Notice That a Pair of Jeans Costs

question 223

Multiple Choice

When shopping you notice that a pair of jeans costs $20 and that a tee-shirt costs $10.You compute the price of jeans relative to tee-shirts.

• A)The dollar price of jeans and the relative price of jeans are both nominal variables.
• B)The dollar price of jeans and the relative price of jeans are both real variables.
• C)The dollar price of jeans is a nominal variable;the relative price of jeans is a real variable.
• D)The dollar price of jeans is a real variable;the relative price of jeans is a nominal variable.

Recognize the role of consumer behavior in the purchase decision process.

Understand how external factors, such as advertising and personal experiences, influence the information search stage.

Appreciate the importance of preference development and alternative evaluation in the purchasing process.

Understand postpurchase behavior and its impact on consumer satisfaction and loyalty.

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Definitions:

Implied Powers

Powers not explicitly stated but are considered necessary for fulfilling the expressly granted powers of an authority or government body.

Incorporated

refers to the process by which a business becomes a legally recognized entity that is distinct from its owners, providing benefits like liability protection and tax advantages.

Corporation Name

The legal name under which a corporation is registered to conduct business.

Société Anonymes

A French term for a public limited company, characterized by having its shares offered to the public and managed by a board of directors.