At a World Issues Conference, All the Participants Were Asked

question 51

Multiple Choice

At a World Issues Conference, all the participants were asked to develop responses to two case situations.People split themselves up into teams based on their occupations.Which of the following helps to explain why the participants acted this way?

• A)Self-fulfilling prophecy
• B)Bandwagon effect
• C)Social identity theory
• D)Projection bias
• E)Collective perception

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Definitions:

Breakeven

A financial situation where revenue equals costs, resulting in neither profit nor loss.

Mark-up

The margin calculated by subtracting the cost of a product or service from its sale price, then dividing by the cost, expressed as a percentage.

Retail Price

The price at which goods are sold to the public, typically higher than the wholesale price.

Mark-up

Increment on the buying price of products targeted to offset operational costs and profits.