Levin and Co

question 87

Multiple Choice

Levin and Co. is a group of oil refineries that has been in the news recently. The company had to stop production for over two weeks because their key supplier refused to sell them crude oil at the old prices. Even after rounds of negotiations, the supplier refused to give in to the demands of Levin and Co. and finally, the company had to acquire the raw material from the same supplier because alternative suppliers, though abundant, could not provide the quantities the company demanded at such short notice. This shows the role of ________ in increasing the power one enjoys.

• A) substitutability
• B) abundance
• C) exchange
• D) alternatives
• E) dependence

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Definitions:

External Attribution

The process of attributing one's behavior to external factors or situations outside the individual’s control.

Social Psychology

The study of how people think about, influence, and relate to other people.

Social Cognition

The area of social psychology exploring how people select, interpret, remember, and use social information.

Stereotype

A generalization about a group’s characteristics that does not consider any variations from one individual to another.