The answer is written by experts in their field of study.
Answer:
The correct option is: d. affect-based trust
Explanation:
Affect-based trust is the type of trust that is heavily dependent on the emotional feelings of an individual towards the other individual. This type of trust is based upon the personality or character traits of the individual rather than logical reasoning. The affect-based trust is built on the social emotional bond that goes beyond the work or professional relationship between the partners.
South Africa's competition policy seeks to limit abuse of dominance and proactively open the economy, stimulating development as critical tools to transform and grow the economy.
<h3>What is the influence of the competition policy?</h3>
Competition policy is about applying rules to make sure businesses and companies compete fairly with each other. This encourages enterprise and efficiency, creates a wider choice for consumers and helps reduce prices and improve quality.
Therefore, the competition policy has been more of success than failure.
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<span>Products that customers consider essentials or necessities tend to have less elasticity than products viewed as luxury or discretionary. If a customer believes he needs a certain product for survival, quality of life, or pleasure, he is more likely to stretch a bit to purchase the item if the price goes up. On the contrary, a product viewed as optional is a less likely purchase as the price increases because the customer believes he can live without it.Customer OptionsThe more options a customer has to meet a particular functional or emotional need, the more elastic a product's demand. This is why a company with a monopoly has a huge advantage. Customers don't have options and feel compelled to buy from the given provider. In highly competitive industries, price differentials are usually less among competing brands because of the ability customers have to select lower-priced alternatives. A closely related factor is the cost of switching brands. Cell phone customers often wait to change providers to avoid penalties if they are obligated to service contracts.
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Answer:
The answer is d. Satisficing.
Explanation:
The term is a combination of the words "satisfy" and "suffice". This strategy involves examining the available options until an acceptable quality standard is found. It mostly occurs when an optimal choice cannot be made (in the example, the reason is the lack of time). Decision-makers will usually pick the first acceptable option.
