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HA

Answered

If real GDP increased and GDP decreased during the same year,we could conclude that

A) an inflation occurred during the year.
B) the unemployment rate increased during the year.
C) the general price level fell during the year.
D) net exports were negative.
E) All of the choices are correct.

On Jul 25, 2024


C
HA

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If the average cost of transporting a passenger on the train from Chicago to St. Louis is $75, it would be irrational for the railroad to allow any passenger to ride for less than $75.

On Jul 22, 2024


False
HA

Answered

Although the stages of the consumer buying process are typically discussed in a linear fashion, consumers do not always follow the stages in sequence. Explain why this often occurs.

On Jun 25, 2024


The consumer buying process involves five stages of activities that consumers may go through in buying goods and services. The process begins with the recognition of a need and then passes through the stages of information search, evaluation of alternatives, purchase decision, and postpurchase evaluation. The buying process depicts the possible range of activities that may occur in making purchase decisions. Consumers, however, do not always follow these stages in sequence and may even skip stages en route to making a purchase. Likewise, consumers who are loyal to a product or brand will skip some stages and are most likely to simply purchase the same product they bought last time. Consequently, marketers have a difficult time promoting brand switching because they must convince these customers to break tradition and take a look at what their products have to offer. The buying process often involves a parallel sequence of activities associated with finding the most suitable merchant of the product in question. That is, while consumers consider which product to buy, they also consider where they might buy it. In the case of name brand products, this selection process may focus on the product's price and availability at different stores or online merchants. Conversely, in the case of private-label merchandise, the choice of product and merchant are made simultaneously. The choice of a suitable merchant may actually take precedence over the choice of a specific product. In some cases, customers are so loyal to a particular merchant that they will not consider looking elsewhere. Consumers may spend relatively more or less time in certain stages, they may follow the stages in or out of sequence, or they may even skip stages entirely. This variation in the buying process occurs because consumers are different, the products that they buy are different, and the situations in which consumers make purchase decisions are different. A number of factors affect the consumer buying process, including the complexity of the purchase and decision, individual influences, social influences, and situational influences. The complexity of the purchase and decision-making process is the primary reason why the buying process will vary across consumers and with the same consumer in different situations. For example, highly complex decisions, like buying a first home, a first car, selecting the right college, or choosing elective surgery, are very involving for most consumers. These purchases are often characterized by high personal, social, or financial risk; strong emotional involvement; and the lack of experience with the product or purchase situation. In these instances, consumers will spend a great deal of time, effort, and even money to help ensure that they make the right decision. In contrast, purchase tasks that are low in complexity are relatively noninvolving for most consumers. In some cases, these purchase tasks can become routine in nature. For example, many consumers buy groceries by selecting familiar items from the shelf and placing them in their carts without considering alternative products.
HA

Answered

The advantages of an organization with effective HR practices may come from having better resources,but it also comes from making better use of these resources

On Jun 22, 2024


True
HA

Answered

The marginal product of a factor is just the derivative of the production function with respect to the amount of this factor, holding the amounts of other factor inputs constant.

On May 26, 2024


True
HA

Answered

The maximum welfare benefit levels in most states

A) by law are 1.5 times the poverty income threshold.
B) by law must equal the poverty income threshold.
C) are significantly above the poverty income threshold.
D) are significantly below the poverty income threshold.

On May 23, 2024


D