Suppose You Camped Out in Front of an Electronics Store

question 24

Multiple Choice

Suppose you camped out in front of an electronics store to be one of the 200 lucky people able to purchase the latest gaming system. You bought the system for $350. Two weeks later you see that the same system can be sold on e-Bay for $600, so you sell your system. Your market role is as:

• A)a consumer in both of these markets.
• B)a consumer at the electronics store and as a seller on e-Bay.
• C)a consumer at the electronics store; the e-Bay transaction did not occur in a market.
• D)a seller in both of these markets.

Understand the role and impact of the Federal Communications Commission (FCC) and significant legislation such as the Telecommunications Act of 1996 on the media landscape.

Recognize the growing influence of online platforms and social media in politics today.

Understand the role and influence of media in politics and society.

Identify key entities responsible for regulating electronic media and their functions.

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Definitions:

Sensory Adaptation

The gradual decrease in sensory receptors' sensitivity to unvarying stimuli as time goes on.

Morphed Blend

The combination or fusion of two or more elements that have been altered or transformed to create a new entity.

Context Effects

The influence of environmental factors on one's perception of a stimulus.

Environmental Surroundings

The physical, social, and cultural context in which an individual lives and operates, which can influence behavior and mental processes.