It Would Not Be Correct to Describe the Behaviour of People

question 5

Multiple Choice

It would not be correct to describe the behaviour of people queuing for a bus as a collective behaviour because:

• A) it is not large enough
• B) it is governed by appropriate social norms
• C) it does not have a clear leader motivating the action
• D) interstimulation is absent among the participants
• E) it is unplanned in the course of its development

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Definitions:

Consumer Surplus

The difference between the highest price a consumer is willing to pay for a good or service and the actual market price they pay.

Positively Sloped

Describes a line on a graph that moves upward as one moves from left to right, indicating a direct relationship between two variables.

Negatively Sloped

A term used in economics to describe a line on a graph that moves downwards from left to right, indicating an inverse relationship between two variables.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total benefits to society from trading a good or service.