A. people give too much weight to a small number of vivid observations
B. People are sometimes too sure of their own abilities
C. All of these answers are actually true statements about how people make decisions.
D. People are always rational maximizers
E. People are reluctant to change their minds in the face of new information
Related Mcqs:
- A company faces several major decisions in international marketing the first of these decisions is often ?
A. deciding whether to go international
B. looking at the global marketing environment
C. deciding which markets to enter
D. deciding how to enter markets - Which of the following is true regarding the production and pricing decisions of monopolistically competitive firms? Monopolistically competitive firms choose the quantity at which marginal cost equals ?
A. marginal revenue and then use the demand curve to determine the price consistent with this quantity
B. average total cost and then use the supply curve to determine the price consistent with this quantity
C. marginal revenue and then use the supply curve to determine the price consistent with this quantity
D. average total cost and then use the demand curve to determine the price consistent with this quantity - Which of the following is true with regard to monopolistically competitive firms scale of production and pricing decisions Monopolistically competitive firms produce ?
A. at the efficient scale and charge a price equal to marginal cost
B. at the efficient scale and charge a price above marginal cost
C. With excess capacity and charge a price above marginal cost
D. With excess capacity and charge a price equal to marginal cost - The Choice between high markups and high volume is part of which of the following retailer marketing decisions ?
A. Target market decisions
B. Produced assortment and services decisions
C. Pricing decisions
D. Promotion decisions - When companies make marketing decisions by considering consumers wants and the long run interests of the company consumer and the general population they are practicing which of the following principle ?
A. Innovative marketing
B. Consumer-oriented marketing
C. Value marketing
D. Societal marketing - Which of the following is true under pairwise majority rule if people vote for the outcome closest to their most preferred outcome ?
A. The average preferred outcome wins
B. There is no clear winner due to Arrow’s Impossibility Theorem.
C. The outcome preferred by the median voter wins
D. The outcome preferred by the greatest number of voters wins. - In a planned or command economy, all the economics decisions are taken by the ?
A. Consumers
B. voters
C. government
D. Workers - If you were running a firm in a perfectly competitive industry, you would be spending your time making decisions on ?
A. how much to spend on advertising?
B. how much of each input to use?
C. What price to charge
D. none of these - A group of firms that gets together to make price and output decisions is called ?
A. a concentrated industry.
B. a cartel
C. price leadership
D. an oligopoly. - Keynes suggested that decisions to consume and save were based on ?
A. previous decisions
B. absolute income
C. relative income
D. permanent income
