Brand loyalty in the product choice step of the consumer decision-making process is an example of a ________
A) psychographic
B) consumer expectation
C) cognitive dissonance
D) heuristic
E) behavioral target
D
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Which statement best describes a typical guest’s perception of wait?
a. Occupied time feels longer than unoccupied time. b. Time spent waiting for service feels shorter than time spent receiving service. c. Anxious waits feel shorter than relaxed waits. d. Waits of uncertain length feel longer than waits of certain length.
The fixed cost per unit:
A. will decrease as activity decreases. B. will increase as activity increases. C. will decrease as activity remains constant. D. will increase as activity decreases and will decrease as activity increases. E. will remain constant.
At the current price level, producers supply $375 billion of final goods and services while consumers purchase $355 billion of final goods and services. The price level is:
a. above equilibrium. b. At equilibrium. c. Below equilibrium. d. More information is needed.
Managers are most prone to error in a condition of
A. certainty. B. uncertainty. C. risk. D. rationality. E. perfect information.