Microeconomics Is the Study Of

question 13

Multiple Choice

Microeconomics is the study of:

• A)marginal or inferior products.
• B)how to use the fewest natural resources to produce goods and services.
• C)the behavior of the economy as a whole.
• D)the economic behavior of individual decision makers.
• E)the government's role as a producer in the economy.

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Definitions:

Groupthink

A phenomenon whereby a group makes faulty decisions because of group pressures, leading to a degradation of mental efficiency, reality testing, and moral judgment.

Social Facilitation

The tendency for people to perform differently when in the presence of others than when alone, often improving on simple or well-rehearsed tasks.

Self-Disclosure

Revealing intimate aspects of oneself to others.

Asch Procedure

A research method used in social psychology to study conformity to group pressure by analyzing how individuals yield to or defy a majority group's opinion.