When a Law Is Passed That Requires Businesses to Obtain

question 136

Multiple Choice

When a law is passed that requires businesses to obtain permission from government officials in order to enter a market, this is an example of

• A) price-control legislation.
• B) a barrier to entry
• C) antitrust legislation.
• D) the invisible hand principle.

Distinguish between informational and normative influences in shaping private acceptance of beliefs.

Recognize commitment and consistency as a basis for certain social influence techniques, such as the labeling technique.

Identify car salespeople's usage of social influence techniques in real-world scenarios.

Understand the principles of scarcity and how they influence perceptions of value.