Coginitive dissonance occurs in which stage of the buyer decision process model ?

Related Mcqs:

1. Suppose there are three identical vases available to be purchased. Buyer 1 is willing to pay Rs30 for one, buyer 2 is willing to pay Rs25 for one, and buyer 3 is willing to pay Rs20 for one. If the price is Rs25, how many vases will be sold and what is the value of consumer surplus in this market ?

   A. Three vases will be sold, and consumer surplus is Rs80
   B. One vase will be sold, and consumer surplus is Rs5.
   C. One vase will be sold, and consumer surplus is Rs30.
   D. Three vases will be sold, and consumer surplus is Rs0.
   E. Two vases will be sold, and consumer surplus is Rs5.

2. A buyer’s willingness to pay is that buyer’s ?

   A. minimum amount they are willing to pay for a good
   B. producer surplus.
   C. consumer surplus
   D. maximum amount they are willing to pay for a good
   E. none of these answers

3. The last stage in the selling process in the __________ stage?

   A. Approach
   B. handling objections
   C. closing
   D. follow-up

4. The Heckscher-Ohl in model rules out the classical model’s basis for trade by assuming that _________ is (are) identical between countries?

   A. factor endowments
   B. factor intensities
   C. technology
   D. opportunity costs

5. The hypothesis that people know the true model of the economy and that they use this model to form their expectations of the future is the ?

   A. Rational-expectations hypothesis
   B. Passive-expectations hypothesis
   C. adaptive expectations hypothesis
   D. lagged-expectations hypothesis.

6. The Keynesian model is a good guide to ____ behavior and the classical model describes behavior in ______?

   A. long run, short run
   B. flexible imperfect markets
   C. short-term long run
   D. long run, imperfect markets

7. Which of the following is NOT one of the five stages of the buyers decision process?

   A. need recognition
   B. brand identification
   C. information search
   D. purchase decision

8. A company is in the ________ stage of the new product development process when the company develops the product concept into a physical product in order to assure that the product idea can be turned into a workable product ?

   A. product development
   B. commercialization
   C. marketing strategy
   D. business analysis

9. What is called degree of buyer’s responsiveness to price changes ?

   A. Production & Supply
   B. Demand push Supply
   C. Demand & Supply
   D. Demand pull supply

10. If a buyer’s willingness to pay for a new Honda is Rs20,000 and she is able to actually buy it for Rs18,000 her consumer surplus is ?

    A. Rs18,000
    B. Rs20,000
    C. Rs2,000
    D. Rs0.