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The Halo Effect Occurs When One Characteristic of a Person

question 208

True/False

The halo effect occurs when one characteristic of a person shapes our general impression of that person which, in turn, biases our perceptions about the other characteristics of that person.


Definitions:

Production Possibilities

The different quantities of various goods and services that an economy can produce with given resources and technology.

Equilibrium

A state in which market supply and demand balance each other, and as a result, prices become stable.

Comparative Advantage

The ability of a country, individual, or firm to produce a particular good or service at a lower opportunity cost than others.

Marginal Cost

The cost incurred by producing one additional unit of a product or service.

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