The Term That Scholars Use to Suggest That When People

question 69

Multiple Choice

The term that scholars use to suggest that when people look at actors they mistrust, they are likely to justify negative behavior to bad intensions is known as

• A) misunderstanding.
• B) bounded rationality.
• C) groupthink.
• D) fundamental attribution bias.

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Definitions:

Consumer Surplus I

The gap between what consumers are prepared and able to spend on a product or service and what they end up paying.

Price

The amount of money required to purchase a good or service.

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than other producers.

Absolute Advantage

Refers to the capability of an entity to produce a good or service more efficiently than its competitors using the same amount of resources.