According to Cognitive Dissonance Theory (Festinger,1957),people Are Motivated to

question 50

Multiple Choice

According to cognitive dissonance theory (Festinger,1957) ,people are motivated to

• A) be accurate in their social perceptions.
• B) reduce psychological arousal via relaxation techniques.
• C) affiliate with others, especially those who agree with them.
• D) reduce inconsistency only to the extent that it involves something important.

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Definitions:

Given Demand Curve

A graphical representation of the relationship between the price of a good or service and the quantity demanded by consumers at various price levels.

Excess Quantity Demanded

A situation where the quantity demanded of a good or service exceeds the quantity supplied at a particular price.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded.

Price of Steel

The price of steel is the cost for a specific weight or quantity of steel, a crucial material in construction, manufacturing, and infrastructure projects, influenced by factors such as market demand, production costs, and global economic conditions.