Groupthink Is When Members Strive to Agree Instead of Trying

question 79

True/False

Groupthink is when members strive to agree instead of trying to make an accurate assessment of the situation.

---

Definitions:

Willingness to Pay

The maximum amount an individual is prepared to spend on a good or service, reflecting the value they place on it.

Consumer Surplus

The discrepancy in the total charges consumers are prepared and economically able to bear for a good or service, and the charges they actually bear.

Willingness to Pay

The maximum amount an individual is prepared to spend for a good or service, reflecting the value they assign to it.

Consumer Surplus

The difference as marked by what consumers are prepared to spend on a good or service versus the actual payment made.