Economists Use _____ Economic Analysis to Understand an Individual Market

question 74

Multiple Choice

Economists use _____ economic analysis to understand an individual market. They then use _____ economic analysis to guide an appropriate national economic policy.

• A) macro, normative
• B) micro, positive
• C) micro, macro
• D) normative, positive

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Definitions:

Conformity

Adjusting one's behavior or thinking to match those of others or adhere to group norms.

Socialization Process

The process through which individuals learn and adopt the values, norms, and behaviors that are necessary for participating within a society or specific group.

Anticipatory Stage

This stage refers to the process of socialization before an individual joins an organization, where they form expectations and attitudes about their upcoming work environment.

Organizational Citizenship Behaviour

A type of behavior exhibited by employees that is discretionary, not directly or explicitly recognized by the formal reward system, and that in the aggregate promotes the effective functioning of the organization.