Suppose That a Friend Tells You a Phone Number That

question 10

Multiple Choice

Suppose that a friend tells you a phone number that you need to dial, as soon as you are done talking. You don't have a pencil, so you remember it by grouping it into two sections, one with three digits, and one with four digits. The method you have used is called

• A) the chunking method.
• B) the method of loci.
• C) the keyword method.
• D) the narrative technique.

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Definitions:

Easy Entry And Exit

Describes a market condition where firms can freely enter or exit the market without facing significant barriers.

Monopolistically Competitive

A market structure where many companies sell products that are similar but not identical, allowing for some degree of market power and product differentiation.

Monopolistically Competitive

Refers to a market structure where many firms sell products that are similar but not identical, leading to competition based on product differentiation.

Barriers To Entry

Economic, procedural, or regulatory obstacles that prevent new competitors from easily entering an industry or area of business.