An Example of Informational Conformity Is

question 129

Multiple Choice

An example of informational conformity is:

• A) going to a party because of peer pressure.
• B) acting like everyone else to be popular.
• C) following proper dining etiquette in a fancy restaurant.
• D) picking a movie to watch based on ratings and reviews.

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Definitions:

Economic Order Quantity

An inventory management formula that determines the ideal order size to minimize the costs of holding and ordering inventory.

Variable Cost

Variable cost refers to expenses that change in proportion to the activity of a business, such as costs for raw materials or production that increase or decrease based on the volume of production.

Fixed Cost

Costs that do not change with the volume of production, such as rent, salaries, and insurance premiums.