The Demand for a Good or Service Is Determined by

question 8

Multiple Choice

The demand for a good or service is determined by

• A)those who buy the good or service.
• B)the government.
• C)those who sell the good or service.
• D)both those who buy and those who sell the good or service.

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Definitions:

Stereotype

A fixed, oversimplified, and often inaccurate idea of the characteristics that typify a person or group, leading to prejudiced attitudes and actions.

Academic Achievers

Individuals who attain a high level of success in educational settings through excellent performance and grades.

Professional Athletes

Individuals who are paid to compete in sports at an expert level.

Mere Exposure Effect

The mere exposure effect is a psychological phenomenon where individuals develop a preference for things merely because they are familiar with them.