"Look! Up in the Sky! It's a Bird

question 1

Multiple Choice

"Look! Up in the sky! It's a bird. It's a plane. It's Superman!" If you looked up, would you be conforming?

• A) Yes. You would be looking up because you were told to do so.
• B) No. Conformity requires that you base your behavior on what other people are doing, not being told to do so.
• C) Yes. Conformity means doing what you are told or else.
• D) No. Looking up only means you are curious.
• E) No. Looking up was a voluntary action, while conformity refers to reflexive actions.

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Definitions:

Prisoners' Dilemma

A situation in game theory where two individuals acting in their own self-interest pursue a course of action that does not result in the ideal outcome for either party.

Tying

A practice where a seller requires the purchase of additional products or services in order to buy the desired product, often seen as anti-competitive.

Collude

Collusion involves cooperation between competing firms or entities to manipulate market conditions or prices in their favor, often detrimentally affecting market fairness and consumer interests.

Duopoly

A market structure characterized by two producers/sellers dominating the market, influencing prices and decisions significantly.