Groupthink

question 35

Multiple Choice

Groupthink:

• A) occurs when the individual employee is unclear about the dictates of a given situation.
• B) is a deterioration of mental efficiency,reality testing,and moral judgment that results from in-group pressures.
• C) is a situation where group members who are chronically exposed to antisocial behaviors are likely to engage in them.
• D) occurs when members reduce their effort and performance levels when acting as part of a group.

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Definitions:

Competitive Industry

An industry characterized by numerous competitors, where businesses vie for market share by offering unique products, prices, or services.

Market Demand

The overall sum of a particular good or service that consumers in a marketplace are prepared and able to buy across a range of prices.

Market Equilibrium

A situation in a market where the quantity of a product demanded by consumers equals the quantity supplied by producers, leading to a stable price.

Competitive Industry

An industry characterized by a large number of firms competing with each other to provide goods or services to consumers.