A Level of Distribution Density Whereby a Firm Tries to Place

question 191

Multiple Choice

A level of distribution density whereby a firm tries to place its products in a few retail outlets in a specific geographical area is referred to as

• A)intensive distribution.
• B)extensive distribution.
• C)selective distribution.
• D)exclusive distribution.
• E)concentrated distribution.

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Definitions:

Time Inconsistency

The tendency of certain conditions or decisions to change over time, especially in the context of economic planning and policy-making.

Prospect Theory

A behavioral economics theory of preferences having three main features: (1) people evaluate options on the basis of whether they generate gains or losses relative to the status quo; (2) gains are subject to diminishing marginal utility, while losses are subject to diminishing marginal disutility; and (3) people are prone to loss aversion.

Behavioral Economists

Economists who study how psychological, social, cognitive, and emotional factors affect economic decisions and market outcomes.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.