ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Consumers prevent companies from selling products revealed to be dangerous.
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Consumers do not buy products revealed to be dangerous.
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Consumers use the information to test new products for themselves.
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Consumers buy products regardless of government information.
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Detailed explanation-1: -The government policy affects product design in the form of financial and non-financial incentives, and regulations. The consumers affect product design by their purchase behavior that is in turn influenced by price, product quality, and the presence of competing products.
Detailed explanation-2: -A consumer who is knowledgeable and well informed about a potential purchase is less likely to search for additional information.-The extent of a consumer’s external search is also affected by confidence in one’s decision-making ability.
Detailed explanation-3: -Personal factors: Audience demographics such as age, culture, profession, age and background play major roles in forming consumers’ interests and opinions. Social factors: A person’s social groups affect how they shop. Their income, education level and social class influence their buying behaviors.
Detailed explanation-4: -The consumers consider various things like the characteristics of the product, price charged, availability of the product at the required location and much more. The personal factors include age, occupation, lifestyle, social and economic status and the gender of the consumer.