The False Consensus Effect Refers to the Tendency for People

question 13

Multiple Choice

The false consensus effect refers to the tendency for people to ____.

• A)overestimate the number of people who agree with them
• B)underestimate the number of people who agree with them
• C)rely too heavily on the primacy effect
• D)not rely heavily enough on the primacy effect

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Definitions:

Ceiling Price

A government-imposed maximum price on goods or services, intended to prevent prices from rising above a certain level.

Product Shortage

A situation where the demand for a product exceeds its supply in the market.

Legal Ceiling Price

A maximum price set by government regulation that sellers are allowed to charge for a good or service, intended to protect consumers from excessive pricing.

Equilibrium Price

The rate at which the amount of a product supplied matches the amount of the product demanded.