The Tendency of a Group to Develop Beliefs and Make

question 25

Multiple Choice

The tendency of a group to develop beliefs and make decisions that are more extreme than the initial inclination of its members is called:

• A) risky shift.
• B) group persuasion.
• C) extreme terrorism.
• D) group think.
• E) group hyperbole.

Differentiate between equitable remedies and damages.

Explain the concept of specific performance and under what circumstances it is granted.

Understand how contract terms can limit or specify remedies for breach.

Comprehend the legal implications of liquidated damages clauses.

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Definitions:

Commons Dilemma

A situation in which individuals' short-term selfish interests are at odds with long-term group interests and the common good.

Resource Trap

The situation when a country or region relies heavily on a single natural resource for economic growth, potentially hindering long-term development.

Social Loafing

Social loafing is the tendency of individuals to exert less effort when working in a group compared to when working individually, due to perceived diffusion of personal responsibility.

Altruistic Punishment

A behavior where individuals punish others for breaking societal norms, even at a cost to themselves, to enforce cooperative behavior.