The Big Five Personality Dimensions

question 202

Multiple Choice

The big five personality dimensions

• A) each apply to a few very specific situations.
• B) are all highly related to each other.
• C) are the first five traits to develop in a child, although many more important traits develop later in life.
• D) can describe most of the usual variation in human personality.

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Definitions:

Efficient Outcome

An economic situation in which all resources are allocated in the most effective way possible, maximizing potential benefit.

Negative Externality

A negative effect or cost suffered by a third party due to an economic transaction they were not involved in.

Socially Optimal Price

The price of a good or service that reflects the true cost to society, accounting for externalities and ensuring allocative efficiency.

Transaction Costs

Expenses incurred when buying or selling goods and services, which can include fees, taxes, and other costs.