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Use the Following to Answer the Questions

question 141

Multiple Choice

Use the following to answer the questions.
A new U.S.automobile company,Specialty Motors,was established in 2004.In 2008,a recession caused disposable income to decline,and the annual amount of dollars spent by consumers for automobiles dropped drastically.Specialty Motors faced the problem of trying to determine whether the economy would turn toward prosperity or toward depression.No matter what happened,Specialty Motors was also worried about an impending global steel shortage,which would make a big difference in its future marketing plans.The economy might recover from the recession,but the automobile makers might be forced to ask consumers to curtail consumption just when the hope of a better year was finally in sight.All in all,the future looked dismal for Specialty Motors.
-Refer to Scenario 3.2.When Specialty Motors is operating during a recessionary period,its promotion efforts should stress

Understand the principles of existential counseling.

Comprehend the existential concepts of freedom, responsibility, and choice.

Learn the existential viewpoint on death anxiety and its involvement in counseling.

Recognize the four areas addressed in existential counseling as stated by Irving Yalom.

Definitions:

Revealed Preferences

A theory that determines preferences by observing consumer choices and behaviors rather than asking them directly.

Francs

A currency formerly used in France and other countries, replaced by the euro in many areas.

Strong Axiom

Often refers to the strong axiom of revealed preference, which is a more stringent condition than the weak axiom, ensuring choices are consistent across different sets of available options.

Revealed Preferences

A theory that determines preferences by observing consumer choices and behaviors, rather than through direct inquiry about preferences.