The Information Search Stage Clarifies the Problem for the Consumer

question 396

Multiple Choice

The information search stage clarifies the problem for the consumer by: (1) suggesting criteria to use for the purchase; (2) __________;and (3) developing consumer value perceptions.

• A)evaluating particular products
• B)selecting the type of purchase outlet
• C)establishing a purchase timeline
• D)minimizing cognitive dissonance
• E)yielding brand names that might meet the criteria

---

Definitions:

Private Goods

Goods that are both rivalrous and excludable, meaning consumption by one person reduces availability for others and access can be restricted.

Tragedy of the Commons

A situation in which individual users, acting independently according to their own self-interest, deplete or spoil shared resources, even though it is contrary to the group's long-term interests.

Private Good

A product or service that is individually consumed and can be easily excluded from non-payers, making it rivalrous in consumption.

Subsidize

Financial support given by the government or another organization to reduce the cost of goods, services, or activities, often to encourage development or consumption.