Identify three types of risk consumers might perceive in the context of purchasing a car.
Answer: Consumers might perceive physical risk (an unsafe car poses a safety risk to the physical well-being of the driver and passengers), a financial risk (the car might be overpriced or may decline in value so rapidly that it will have minimal resale value when the consumer tries to resell it), and a functional risk (the car may not perform to the expectations of the consumer). Students may identify other risks, including social, psychological, and time risks.