An Attitude Can Exist at Two Levels: Implicit and Explicit

question 60

Essay

An attitude can exist at two levels: implicit and explicit. Define an attitude at each level and explain the distinctions between the two.

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Definitions:

Size Distribution

Refers to the variation in size among entities in a population, such as companies within an industry or incomes among individuals.

Market Power

The ability of a company or entity to influence the price or terms of products in the market to its advantage, often because of its size or market share.

Contestable Markets

Markets where entry and exit are costless or very low, making the market susceptible to potential competition.

Differentiates Oligopoly

A characteristic of oligopoly markets where few firms dominate and each firm tries to distinguish its product or service from those of competitors.