Economists Normally

question 150

Multiple Choice

Economists normally

• A)do not try to explain people's tastes,but they do try to explain what happens when tastes change.
• B)believe that they must be able to explain people's tastes in order to explain what happens when tastes change.
• C)do not believe that people's tastes determine demand,so they ignore the subject of tastes.
• D)incorporate tastes into economic models only to the extent that tastes determine whether pairs of goods are substitutes or complements.

Evaluate the equilibrium theory in understanding social change and its criticisms.

Differentiate between fashion, fads, and crazes with relevant examples.

Explain the impact of demographic shifts on social change with Canadian examples.

Compare and contrast different theories relating to crowd behavior, specifically emergent norm theory, contagion theory, and convergence theory.

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Definitions:

Personality Scores

Quantitative measures derived from assessments designed to describe individual differences in personality traits and characteristics.

Variables

Any characteristic, number, or quantity that can be measured or quantified that may vary among subjects being observed.

Self-Esteem

An individual's subjective evaluation of their own worth, encompassing beliefs about oneself, including body image, emotions, and behaviors.

Correlational Research

A research method used to determine the relationship between two variables without the inference of causation.