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COGNITIVE DISSONANCE: Also called buyer's remorse. This post-purchase behavior is more likely to happen when the purchase is a more expensive one. The consumer may experience some regrets or questioning as to whether the purchase was a good one. This is the fifth step in the decision making process. Marketers can help eliminate this by properly selling the product and doing a follow-up to help reinforce the buyer's "good" decision.
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ELASTICITY AND SUPPLY INTERCEPT The intersection of a straight-line supply curve with vertical price axis and/or horizontal quantity axis reveals the relative price elasticity of supply. Intersection with the horizontal quantity axis means inelastic and intersection with the vertical price axis means elastic. Intersection with the origin means unit elastic supply.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale hoping to buy either a flower arrangement for that special day for your mother or a New York Yankees baseball cap. Be on the lookout for defective microphones.
Your Complete Scope
This isn't me! What am I?
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Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.
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"Opportunities are usually disguised as hard work, so most people don't recognize them." -- Ann Landers, columnist
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JPUBE
Journal of Public Economics
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