Which Scenario Best Illustrates Someone Soliciting Information, and as a Result

question 22

Multiple Choice

Which scenario best illustrates someone soliciting information, and as a result, being affected by informational influence?

• A)A man is interested in buying a truck, and goes online to different truck blogs and websites to gather information.He uses this information to help guide his decision-making about what trucks to test drive.
• B)A teenager asks her friends if they like a certain store.When they say yes, she declares that she likes it too, because she wants to seem cool.
• C)A professor asks her students whether they believe there are instances in which genocide is 'justified'.She listens to their opinions and corrects them when they make inaccurate statements about history.
• D)A father asks his seven-year-old how she knows that it's dinnertime (he is testing her ability to read Roman numerals on the kitchen clock).When she explains what some of the numerals mean, he nods appreciably and pretends to have learned something.

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Definitions:

Market Equilibrium

The state where the quantity of a product demanded by consumers equals the quantity supplied by producers.

Determinants of Market Supply

Factors that influence the quantity of a good or service that producers are willing and able to sell at a given price, such as production costs, technology, and number of sellers.

Law of Demand

The economic principle that, all else being equal, there is an inverse relationship between the price of a good and the quantity demanded.

Other-Things-Equal Assumption

The assumption that factors other than those being considered are held constant. Also known as the ceteris paribus assumption.