LIST 9 2014. Exorbitant – adj. exceeding what is normal; extreme; unreasonable I am very...

LIST 9

2014

Exorbitant – adj.

exceeding what is normal; extreme; unreasonable

I am very disgruntled when paying the exorbitant prices for food at the game.

INDIGNANT -- adjective

angry

The employee was indignant when his boss took all the credit for his work.

Tedious WorkA team of men soon climbed to Carina's deck area and began the tedious chore of meticulously sanding every square inch of space.

TEDIOUS-- adjective

Long and boring

It was a tedious chore to have to clean every tile in the bathroom.

INSATIABLE -- adjective

Not able to be satisfied

Jerry had an insatiable desire to learn and never stopped taking classes and reading books.

Ariely says, the price a consumer is willing to pay for a good (for instance, a cup of coffee), is based on a principle he calls arbitrary coherence.  This principle says that the initial prices for most goods are basically arbitrary (in other words, who knows what's a good price for a cup of coffee?), but once a price is set and established in the consumers' mind, then that price shapes present prices and future prices.  For instance, Starbucks tells us that the price for a "Cafe Venti Mocha Maciatta-Frappucino-Latte" is $5.  Why is it $5?  Who knows.  It's an arbitrary price. 

ARBITRARY -- adjective

based on chance or impulse as opposed to reason or necessity

The decision to spend $700 billion to help the economy was not an arbitrary decision but rather took a lot of planning and debate.