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1. What is the main idea of the passage?
A. Marketing strategies are always unfair.B. People always buy what they truly need.
C. Our spending is often influenced by psychological factors.
D. Expensive products are better in quality.
2. What psychological concept did Steve Jobs use in his tablet pricing?
A. Scarcity effectB. Anchoring effect
C. Framing effect
D. Novelty effect
3. Why did $499 seem cheap during the presentation?
A. The tablet was very basic.B. Steve Jobs gave a discount code.
C. The crowd was unaware of the features.
D. $999 was mentioned first, making $499 seem much lower.
4. How does price anchoring affect our shopping decisions?
A. We ignore price tags.B. We look for the cheapest option always.
C. Our first price impression influences our future decisions.
D. We choose based only on quality.
5. In the jacket example, why does the $70 jacket seem affordable?
A. It's on sale.B. It has better quality.
C. It costs less than the first $100 jacket.
D. It’s your favorite brand.
6. What is the endowment effect?
A. People want to buy new things often.B. People value things more once they own them.
C. People easily trade what they have.
D. People ignore ownership value.
7. What did the mug and chocolate experiment show?
A. People don’t like chocolate.B. People love free items.
C. Ownership affects how much we value things.
D. Trading is always fair.
8. How do free trials influence customer behavior?
A. They cause confusion.B. People forget to cancel.
C. They create a feeling of ownership, increasing value.
D. They reduce product value.
9. Why do companies offer free-return policies?
A. To get products back quicklyB. To help people make fast decisions
C. Because people rarely return items once they feel ownership
D. To track customer preferences
10. What does the passage suggest about our buying habits?
A. They are based purely on logic.B. They are not influenced by emotions.
C. They are affected by psychological tricks.
D. They are based only on product quality.
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