Individuals Are Likely to Conform to the Responses of Other

question 100

Multiple Choice

Individuals are likely to conform to the responses of other group members if they ________ already publicly committed themselves to their own personal response and if they know that others in the group ________ observe their response.

• A) have;will
• B) have;will not
• C) have not;will
• D) have not;will not

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Definitions:

Capital Goods

Long-lasting goods that are used to produce other goods or services and are not sold directly to consumers.

Law of Increasing Opportunity Costs

states that as production of one good increases, the opportunity cost of producing an additional unit of this good also increases, due to factors of production not being perfectly interchangeable.

Satisfy Wants

The process of fulfilling the desires or needs of consumers through the provision of goods and services.

Marginal Cost Curve

A graphical representation that shows how the cost of producing one additional unit of a good changes as the quantity of production is increased.