If When Making a Decision We Consider Information About the Decision

question 24

Multiple Choice

If when making a decision we consider information about the decision in a superficial way,we are conducting ________ processing.

• A)manual
• B)automatic
• C)controlled
• D)processing

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Definitions:

Subsidy

A payment made by the government to a firm, industry, or individual, usually to encourage the production of a certain good or service or to reduce its price for consumers.

Output

The quantity of goods or services produced in a given time period, by a firm, industry, or country.

Internalized

The process of incorporating external costs or benefits into one's own decision-making criteria.

Externality

A consequence of an economic activity experienced by unrelated third parties, which can be either positive (benefits) or negative (costs).