A Psychologist Who Studies Information Processing and Decision Making Would

question 287

Multiple Choice

A psychologist who studies information processing and decision making would probably be considered a

• A) physiological psychologist.
• B) developmental psychologist.
• C) social psychologist.
• D) cognitive psychologist.

---

Definitions:

Excess Demand

A market situation where the quantity demanded of a good exceeds the quantity supplied at a current price, leading to shortages.

Excess Supply

A situation in a market where the quantity of a good supplied is greater than the quantity demanded at the current price.

Excess Demand

A market condition in which the quantity demanded of a good or service exceeds the quantity supplied at a given price, leading to upward pressure on price.

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price level, at a specific time.