The Tendency for People to Work Less Hard When They

question 163

Multiple Choice

The tendency for people to work less hard when they are working in a group than when they are working alone is known as

• A)the self-serving bias
• B)groupthink
• C)social loafing
• D)social facilitation

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Definitions:

Minimum Price

The lowest possible price at which a good or service can be sold, often set by legal or regulatory authorities to protect producers or consumers.

Deadweight Loss

A loss of economic efficiency that occurs when the equilibrium for a good or a service is not achieved or is not achievable.

Government Cost

Government cost refers to the expenses incurred by the government in the course of its operations, including public services, defense, infrastructure, and social programs.

Minimum Wage

The lowest legal salary that employers can pay workers, set by government legislation.