Speeding in the Town of Chanceville Traditionally Results in a $300

question 32

Multiple Choice

Speeding in the town of Chanceville traditionally results in a $300 fine. The judge at the traffic court, however, decides to change the policy. People found guilty of speeding have the choice of paying the $300 fine or spinning a wheel. There is an 80 percent chance that the needle on the wheel will land on a $400 fine and a 20 percent chance that the needle will land on "No Fine." The city leaders of Chanceville probably will _____ this new policy because _____.

• A)oppose; it will result in a 20 percent loss in revenue
• B)oppose; it will result in an 80 percent loss in revenue
• C)support; most people will pay an average fine that is $20 higher
• D)be indifferent about; most people will continue to pay the $300 fine instead of take a risk

Grasp the significance and benefits of reviews in E-Commerce.

Understand the stages of consumer decision making and the dynamics involved.

Define and identify various decision-making processes including satisficing.

Recognize the least and most influential stages of consumer decision making in context of social commerce.

---

Definitions:

Competitive Advantage

A condition or circumstance that puts a company in a favorable or superior business position compared to its competitors.

Organisational Outputs

The results or outcomes produced by an organization, including products, services, and any other measurable achievements.

Resource Inputs

Resource inputs refer to the essential materials, financial assets, and human skills required for the production process in businesses or projects.

Technology

The application of scientific knowledge for practical purposes, especially in industry and in our daily lives.