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Author Question: Is a typical person likely to gather more information when buying a new computer or when voting for ... (Read 32 times)

Kthamas

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on: Jun 29, 2018
Is a typical person likely to gather more information when buying a new computer or when voting for a member of the U.S. Senate? Why?
 
  What will be an ideal response?

Question 2

An example of a final good would be
 
  A) the coffee beans sold to Starbucks. B) the whipped cream sold to Starbucks.
  C) the soy milk sold to Starbucks. D) a soy latte sold by Starbucks to a student.
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sierramartinez

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The typical person is likely to gather more information when buying a new computer as he or she will be significantly and immediately affected by this decision. When voting for a member of the Senate, the person is only one of many voters and his or her vote is therefore diluted among all other votes and is likely to have very little impact. Because of this, there is little incentive to invest the time and energy to gather information about the candidates.

Answer to Question 2

D


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