Final answer:
Consumer expectations dictate what they feel they deserve from a transaction. A 'good deal' indicates a consumer surplus, where the value received exceeds the price paid. Clear and accurate information influences buyer satisfaction and their perception of the deal.
Step-by-step explanation:
Consumer expectations are what the customer feels he/she deserves from the transaction. In the realm of economics and business, expectations are shaped by the information and beliefs a buyer has regarding the satisfaction a product or service will provide. Imperfect or unclear information can lead to buyer's remorse or hesitation in making purchases.
When a shopper gets a "good deal" on a product, it typically means they've received a product or service that exceeds their expectations in terms of value for money, quality, or utility, which could be defined by economists as consumer surplus. Consumer surplus is the difference between the highest price a consumer is willing to pay and the actual price they pay.