Consumers Will Willingly Make Less-Informed Decisions

question 111

Multiple Choice

Consumers will willingly make less-informed decisions:

• A)​if information costs are less than the perceived benefits of gathering information.
• B)​if information costs are greater than the perceived benefits of gathering information.
• C)​since ignorance always leads to bliss.
• D)​whenever acquiring more information requires sacrifice.

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Definitions:

Realistic Job Preview

An informational tool given to job candidates that provides a balanced view of the positive and negative aspects of a job.

Job Enrichment

Attempts to increase both the number of tasks a worker does and the control the worker has over the job.

Turnover

The rate at which employees leave a workforce and are replaced by new personnel, reflecting the company's retention success and workplace satisfaction.

Employment-At-Will Doctrine

A legal principle that allows employers and employees to terminate employment at any time without reason, as long as it does not violate any contract or law.