Which of the Following Is an Example of a Local

question 2

Multiple Choice

Which of the following is an example of a local monopoly as compared to anational or international monopoly?

• A)a restaurant at a rural crossroads
• B)Alcoa during the 19th century
• C)De Beers Consolidated Mines
• D)AT&T
• E)U.S.Postal Service

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Definitions:

Cognition

The mental action or process of acquiring knowledge and understanding through thought, experience, and the senses.

Triarchic Theory

A theory of intelligence proposed by Robert Sternberg, suggesting intelligence is composed of analytical, creative, and practical abilities.

Robert Sternberg

An American psychologist best known for his theory on intelligence and creativity, including the triarchic theory of intelligence.

Hindsight Bias

The tendency to believe, after learning an outcome, that one would have foreseen it, often referred to as the "I-knew-it-all-along" phenomenon.