Perhaps You've Played This Trick - You Stand in an Elevator

question 129

Multiple Choice

Perhaps you've played this trick - you stand in an elevator and when it arrives at a new floor you turn around and stare at the ceiling.As others get on,you wait to see how long it takes before they turn and look to see what you are so interested in.As you laugh at the success of your practical joke,you think back to the theories of children's cognitive development,and realize that you have just demonstrated a version of joint visual __________.

• A) attention
• B) influence
• C) conformity
• D) leading

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Definitions:

Utility Maximizes

The behavior of consumers to obtain the greatest satisfaction from their choices, given their resources.

Substitution Effect

The change in demand for a good or service caused by a change in its price, making consumers choose alternatives.

Budget Constraints

The limitations on the spending behavior of consumers based on their income and the prices of goods and services, determining the possible combinations of goods and services they can afford.

Substitution Effect

The economic understanding that as prices rise or incomes decrease, consumers will replace more expensive items with less costly alternatives.