Question

The fact that we shop at stores located closer to us more frequently than at stores more distant from us is an example of ______.

A) Retail bias
B) Convenience bias
C) Online shopping
D) Consumer behavior

Answer 1

The fact that we shop at stores closer to us more frequently than at stores more distant from us is an example of convenience bias. Convenience bias refers to the tendency to favor easily accessible options. This bias is a part of consumer behavior.

Step-by-step explanation:

The fact that we shop at stores located closer to us more frequently than at stores more distant from us is an example of convenience bias. Convenience bias refers to the tendency to favor options that are easily accessible or require less effort. In this case, the convenience of shopping at stores nearby outweighs the potential savings of shopping at stores farther away. This bias is a part of consumer behavior, which encompasses the actions and decision-making processes of individuals when purchasing goods or services.

Answer 2

The tendency to shop more frequently at stores located closer rather than distant stores is an example of convenience bias, reflecting consumer behavior principles. So, the best answer is b, Convenience bias

Step-by-step explanation:

The fact that we shop at stores located closer to us more frequently than at stores more distant from us is an example of convenience bias.

This concept falls under the umbrella of consumer behavior, which is a field of study within economics and marketing that examines why consumers make the buying decisions that they do.

Behavioral economics explores the psychological aspects behind such decisions.

For example, you might be more inclined to buy a product for a slightly higher price at a nearer store simply because it saves time and effort, demonstrating convenience bias.

So, the best answer is b, Convenience bias