A Like or Dislike That Influences Our Behavior Is Called

question 23

Multiple Choice

A like or dislike that influences our behavior is called:

• A) a self-fulfilling prophecy.
• B) an attitude.
• C) a trait.
• D) a mental state.

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Definitions:

External Effects

Consequences of economic activities on unrelated third parties; can be positive (benefits) or negative (costs).

Knowledge Creation

The process through which new ideas, information, and understanding are generated, often leading to innovation and improvements in technology or methodology.

Public Good

A good that is non-excludable and non-rivalrous, meaning it can be used by many people simultaneously without reducing the amount available to others.

Market Failure

A situation in which a market left on its own fails to allocate resources efficiently.