Toshiro Has Just Met a Friend of a Friend Named

question 18

Multiple Choice

Toshiro has just met a friend of a friend named Shino. Shino is a lawyer. Because of Toshiro's past experience with lawyers, he immediately assumes that Shino must be very intelligent and a hard worker. In this example, lawyer is a _____ and Toshiro's assumptions about Shino are part of a _____.

• A) schema; category
• B) category; schema
• C) script; impression
• D) impression; script

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Definitions:

Optimal Consumption

refers to the situation in which a consumer allocates their income in a way that maximizes their overall satisfaction or utility, given their preferences and the prices of goods and services.

Demand Schedule

A demand schedule is a table that shows the quantity of a good or service that consumers are willing and able to purchase at various prices.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good.

Responsiveness of Quantity

The degree to which the quantity demanded or supplied responds to changes in price, income, or other factors.