Economists Tend to Focus on One Structural Aspect of Market

question 38

Multiple Choice

Economists tend to focus on one structural aspect of market organization that is more important than the others. It is:

• A) the number of buyers and sellers.
• B) product homogeneity or differentiation.
• C) the quality of market information.
• D) entry and exit conditions.

---

Definitions:

Absolute Thresholds

The minimum stimulus intensity required to be perceptible to the senses.

Sensory Adaptation

The process by which sensory receptors become less sensitive to constant stimuli over time, reducing our awareness of them.

Subliminal Persuasion

A method of influence that operates below the level of conscious awareness, where stimuli are used to affect an individual's thinking or behavior without them being aware of it.

Transduction

The process by which sensory stimuli are converted into signals the brain can interpret, beginning the process of perception.