Examlex
What is the difference between group polarization and groupthink? For group polarization, discuss two processes that may explain its occurrence. For groupthink, discuss some of its symptoms and several factors that make it more likely to occur.
Autonomous Consumption
The level of consumption that occurs when income is zero, showing the basic level of consumption necessary for survival.
Permanent Income Hypothesis
A theory suggesting that people's consumption decisions are based on their long-term income expectations rather than their current disposable income.
Negative Savings
A situation where spending exceeds income, resulting in a deficit rather than savings.
Price Ceiling
A legally established maximum price that can be charged for a good or service, typically set by government.
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