case incident pg178

case incident pg178 - 1. hpIn my opinion, this stereotype...

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1. hpIn my opinion, this stereotype of used-cars was most likely created and fuelled by owners of new-car dealerships. For seller of new cars, used-car dealerships most probably pose as the next biggest group of competitors after other car dealerships like themselves. Sellers of new cars may regard used-car dealers as performer of illegal businesses since they avoid the cost of making cars from scrap and only pay for their maintenance. Hence, car companies tend to form anchoring biases in the minds of the consumers in order to lure them away from a practical purchase of a cheap but used car and steer them towards purchasing an expensive but brand new car which may not suit the consumers’ requirements. Furthermore, as standards of living rise in a community, the demand for normal goods tend to rise and simultaneously, the demand for inferior goods tend to decrease; in a lot of communities, driving a used car is indicative of owning an inferior good and hence the low affordability of the driver. Therefore, owning a
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case incident pg178 - 1. hpIn my opinion, this stereotype...

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