Explain Two Ways in Which the Competitive Industry Displays the Actions

question 136

Essay

Explain two ways in which the competitive industry displays the actions of the invisible hand.

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Definitions:

Processed

Refers to information, materials, or data that has been analyzed, manipulated, or modified in some manner.

Attended To

Focused on or paid special attention to; involves the allocation of cognitive resources towards specific stimuli or tasks.

Dichotic Listening Task

An experimental task used in psychology to study selective attention and the lateralization of brain function, involving presenting two different auditory messages simultaneously, one to each ear.

Attenuation Theory

A model of attention in which unattended perceptual events are transmitted in weakened form but not blocked completely before being processed for meaning.