Microeconomics Focuses on Decision Making by Individuals, Businesses, Industries, and Governments

question 64

True/False

Microeconomics focuses on decision making by individuals, businesses, industries, and governments.

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Definitions:

Insensitivity To Change

The failure to notice changes in one's environment or within a specific context, often because of gradual or subtle changes.

Evaluative Conditioning

A stimulus will become more liked or less liked when it is consistently paired with stimuli that are either positive or negative.

Spreading Attitude Effect

A liked or disliked person (or attitude object) may affect not only the evaluation of a second person directly associated but also others merely associated with the second person.

Automatic Activation

According to Fazio, attitudes that have a strong evaluative link to situational cues are more likely to automatically come to mind from memory.