Research on Group Size and Conformity Has Shown That There

question 110

Multiple Choice

Research on group size and conformity has shown that there is more conformity with

• A)1-2 people than 3-5.
• B)3-5 people than 1-2.
• C)more than 5 people than 3-5.
• D)15 or more people (which really increases the conformity).

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Definitions:

Perfect Competition

A market structure characterized by a large number of small firms, homogeneous products, and free entry and exit, leading to price-taking behavior.

Standardized Product

Output of different producers regarded by consumers as the same good; also referred to as a commodity.

Easy Entry And Exit

Characteristics of a market where companies can freely enter or leave without significant barriers or costs.

Patented Prescription Drug

A medication that is protected by a patent, giving its manufacturer the exclusive right to produce and sell the drug for a certain period.