Which Example Would Be Considered a Black Market Transaction

question 114

Multiple Choice

Which example would be considered a black market transaction?

• A)a tenant in a rent-controlled apartment subletting at a higher rent
• B)the purchase of an inferior radio at a department store
• C)waiting in line during the gasoline shortages of the 1970s
• D)the oil market

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Definitions:

Conformity

Adjusting one's behavior or thinking to match those of other people or a group standard.

Social Loafing

The phenomenon where individuals exert less effort to achieve a goal when they work in a group than when they work alone.

Bystander Apathy

The phenomenon where individuals are less likely to offer help to a victim when other people are present.

Cognitive Dissonance

A psychological phenomenon where an individual experiences discomfort or distress from holding two or more contradictory beliefs, values, or ideas simultaneously.