How Might a Person Acquire Superstitious Behavior Through Observing a Model

question 28

Essay

How might a person acquire superstitious behavior through observing a model? Give an example.

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Definitions:

Efficient

An attribute of a market or process where resources are allocated in the most effective way, yielding the maximum benefit for a given set of resources.

Competitive Equilibrium

Competitive Equilibrium is a state where supply equals demand, market resources are efficiently allocated, and no participant in the market can influence the price of goods or services.

Price Adjustment

The process by which prices of goods and services are altered to respond to changes in the market conditions.

Apples

A widely cultivated fruit that grows on apple trees, and is consumed worldwide for its sweet flavor.