The Price of Many Commodities Does Not Reflect Their Actual

question 108

Multiple Choice

The price of many commodities does not reflect their actual cost to society.This illustrates:

• A)the operation of imperfect price signals
• B)the importance of political pressure in prompting action on environmental issues
• C)the slow pace of change
• D)all of these choices
• E)none of these choices

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Definitions:

Ultimate Attribution Error

A bias in which negative behaviors by out-group members are attributed to their character, while similar actions by in-group members are attributed to situational factors.

Outgroup

A social group to which a person does not identify or belong, often perceived as fundamentally different or inferior.

Luck

A concept that denotes the experience of notably positive, negative, or improbable events by chance.

Stereotypes

Oversimplified generalizations about groups of people that often underpin prejudice and discrimination.