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"An Increase in the Price of Gasoline Will Increase the Demand

question 70

True/False

"An increase in the price of gasoline will increase the demand for hybrid vehicles." This statement is an example of a positive economic statement.


Definitions:

Informational Social Influence

The process of aligning one's thoughts or behaviors with those of a group because of a desire to be correct or to understand the correct way to act in a given situation.

Normative Social Influence

The influence of other people that leads an individual to conform in order to be liked or accepted by them.

Private Acceptance

A genuine inner belief that others are right.

Public Compliance

Outwardly going along with the group but maintaining a private, inner belief that the group is probably wrong.

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