A Group Becomes a Reference Group for an Individual When

question 161

Multiple Choice

A group becomes a reference group for an individual when that person identifies with this group so strongly that he or she

• A) takes on many of the values,attitudes,or behaviors of group members.
• B) becomes a formal member of the group.
• C) becomes familiar with the group's activities.
• D) seeks information from members of the group regarding buying decisions.
• E) cannot control the strength of his or her involvement with the group.

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Definitions:

Opportunity Costs

The price paid by not choosing the second-best option available during decision-making.

Capital Goods

Physical assets such as machinery and buildings used by businesses to produce goods and services over time.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, indicating an improvement in the country's economic health.

Resource Allocation

The process of distributing available resources among various competing needs or uses in order to achieve desired objectives.