A limited capacity for processing information is

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A limited capacity for processing information is known as _____. A. working memory B. bounded memory C. bounded rationality D. bounded processing E. finite processing Most decisions do not generate enough purchase involvement to motivate consumers to seek the optimal solution through extended decision making. AACSB: Analytic Blooms: Knowledge Difficulty: 2 Medium Learning Objective: 16-01 Discuss how actual consumer choice often differs from rational choice theory Topic: Consumer Choice and Types of Choice Process 7. (p. 544) Duane is of average intelligence, and like most consumers, he cannot compare too many alternatives at one time. This limited capacity for processing information is known as _____. A limited capacity for processing information is known as bounded rationality. AACSB: Analytic Blooms: Comprehension Difficulty: 2 Medium Learning Objective: 16-01 Discuss how actual consumer choice often differs from rational choice theory Topic: Consumer Choice and Types of Choice Process
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8. (p. 544) A metagoal refers to _____. Metagoals include minimizing decision effort or maximizing the extent to which a decision is justifiable to others. AACSB: Analytic Blooms: Knowledge Difficulty: 2 Medium Learning Objective: 16-01 Discuss how actual consumer choice often differs from rational choice theory Topic: Consumer Choice and Types of Choice Process 9. (p. 544) Selecting the optimal alternative, minimizing the decision effort, and maximizing the ease with which a decision can be justified are examples of consumer _____. A metagoal refers to the general nature of the outcome being sought. AACSB: Analytic Blooms: Knowledge Difficulty: 2 Medium Learning Objective: 16-01 Discuss how actual consumer choice often differs from rational choice theory Topic: Consumer Choice and Types of Choice Process
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10. (p. 544) The fact that consumers have limited capacity for processing information is referred to as _____. A. bounded rationality B. instrumental capacity C. cognitive capacity D. cognitive dissonance E. all of the above Most decisions do not generate enough purchase involvement to motivate consumers to seek the optimal solution through extended decision making. AACSB: Analytic Blooms: Knowledge Difficulty: 2 Medium Learning Objective: 16-01 Discuss how actual consumer choice often differs from rational choice theory Topic: Consumer Choice and Types of Choice Process 11.
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