A Belief About the Characteristics of Members of a Group

question 50

Multiple Choice

A belief about the characteristics of members of a group that are applied generally to most members of the group is known as a(n)

• A) scapegoat.
• B) prejudice.
• C) stereotype.
• D) illusionary correlation.

---

Definitions:

Price

The amount of money required to purchase a good or service, determined by various factors including supply, demand, cost of production, and market conditions.

Utility Function

A representation in economic theory of how a consumer ranks different bundles of goods based on the level of satisfaction (utility) they provide.

Income

Money that an individual or business receives in exchange for providing a good or service or through investing capital.

Price

The cost or value assigned to a product or service, determining what a buyer must pay to acquire it.