Ben always reaches for the bright blue and yellow box of Ritz crackers when he visits the snack food aisle in the grocery store. He rarely even reads the box or checks the price. Which of the following heuristics is most likely being used by Ben?
A) availability
B) representative
C) anchoring
D) adjustment
E) semantic
B
You might also like to view...
Durable Ceramics, Inc., provides inexpensive ceramic tile to builders of institutional buildings such as schools, prisons, and public administration buildings. It has always competed on a cost leadership basis. Most of its products are purchased by a few commercial construction firms, so it is fairly dependent on these construction firms for selling its product. Durable Ceramics' next-most-efficient competitor, Cost-Less Ceramics, Inc., earns average returns, whereas Durable earns above-average returns. The commercial construction firms are putting pressure on Durable to reduce its prices. If Durable reduces its prices below those of Cost-Less's prices, it is likely that:
A. both Durable and Cost-Less will devise additional ways to become more efficient in their production processes. B. Durable will be unable to absorb the lower cost and will go out of business. C. both Cost-Less and Durable will go out of business, leaving the customers with fewer alternative sources of low-cost tile. D. Cost-Less will go out of business, and Durable will gain higher power over its customers.
In a structural VAR, a restriction that describes the impact of the current-period value of one variable on the current-period value of another variable is known as a ____ restriction.
A. contemporaneous B. long-run C. short-run D. structural
A ________ is the subjective mechanism through which people evaluate and make sense out of situations, leading them to pursue or avoid subsequent actions.
Fill in the blank(s) with the appropriate word(s).
Make-or-buy decisions, such as whether to make a part internally or buy it from an external supplier, may lead to outsourcing
Indicate whether the statement is true or false