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In general, how does the "social context"-the way things are presented and described-influence our social judgment and cognition? Discuss the significance of TWO of the following contextual factors:
a) contrast effects,
b) priming,
c) decision-framing,
d) the order in which information is presented. Describe how these factors influence social judgments in everyday life and provide research evidence to support your answer.
Circular-Flow Diagram
A model that illustrates the movement of resources, goods, services, and money between households and firms in an economy.
Factors Of Production
The resources used in the production of goods and services, typically classified into four groups: land, labor, capital, and entrepreneurship.
Labor
Tasks undertaken by individuals that aid in generating goods and services within an economy.
Capital
Financial assets or the financial value of assets, such as funds held in deposit accounts, as well as the physical factors of production including machinery and buildings.
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