Market Failure Can Be Caused by

question 2

Multiple Choice

Market failure can be caused by

• A)low consumer demand.
• B)equilibrium prices.
• C)externalities and market power.
• D)high prices and foreign competition.

Understand the impact of filter bubbles on attitudes.

Recognize the influence of attitudes in social interactions.

Understand classical conditioning as a mechanism for attitude formation.

Recognize the role of repeated exposure in attitude enhancement.

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Definitions:

Primary Group

A small social group characterized by close, personal, and enduring relationships.

Social Group

A collection of individuals who interact with one another, share similar characteristics, and collectively have a sense of unity or identity.

Identify

To recognize or establish the identity of a person or thing, making it distinct from others.

Social Categories

Classification of individuals based on shared social characteristics or identities, such as race, gender, or socioeconomic status.