The Tendency for People to Screen Out Most of the Information

question 44

Multiple Choice

The tendency for people to screen out most of the information to which they are exposed is known as:

• A) selective attention.
• B) filtering.
• C) selective perception.
• D) selective retention.
• E) selective distortion.

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Definitions:

Overprice

The act of charging a price for a product or service that is higher than what is considered fair or reasonable.

Industry Curve

A graphical representation showing how the average costs of production change as the total output of an industry changes.

Private Bargaining

The process of negotiating terms directly between parties without external intervention.

Externality

An outcome from economic behavior that impacts individuals not directly involved, which may be beneficial or harmful.