The Key Element in Preserving a Monopoly Is Keeping Rivals

question 145

True/False

The key element in preserving a monopoly is keeping rivals out of the market.

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Definitions:

Unattended Information

Information that is present in the environment but is not the focus of one's attention and hence is processed minimally or not at all.

Sensory Memory

The shortest-term element of memory, which allows retention of impressions of sensory information after the original stimuli have ended.

Primacy and Recency Effects

Psychological terms describing the tendency to remember information that appears at the beginning (primacy) and end (recency) of a list better than information in the middle.

Memory

The cognitive process of encoding, storing, and retrieving information.