Multiple Choice
Based on the case, which of the following gives Lego a sustainable competitive advantage in terms of consumer surplus and willingness to pay?
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5. Consumer and Producer Surplus; Price Ceilings and Floors
Consumer Surplus and Willingness to Pay
Multiple Choice
Which of the following is the best example of impulse buying in a supermarket?
A
A customer adds a chocolate bar to their cart at the checkout counter without planning to buy it beforehand.
B
A shopper compares prices of different brands of cereal before choosing the cheapest option.
C
A customer makes a grocery list at home and purchases only the items on the list.
D
A shopper waits for a sale before buying a bulk package of paper towels.
Verified step by step guidance1
Understand the concept of impulse buying: it refers to unplanned, spontaneous purchases made without prior intention or careful consideration.
Analyze each option to see if the purchase was planned or unplanned:
Option 1: A customer adds a chocolate bar at the checkout without planning—this is a classic example of impulse buying because the purchase is spontaneous.
Option 2: Comparing prices before choosing the cheapest cereal involves planning and deliberate decision-making, so it is not impulse buying.
Option 3: Making a grocery list and sticking to it shows planned purchasing behavior, not impulse buying.
Option 4: Waiting for a sale to buy in bulk is a strategic, planned purchase, not an impulse buy.
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