A Police Officer Visits Heather's Class to Discuss Safety Rules

question 48

Multiple Choice

A police officer visits Heather's class to discuss safety rules. To attract the children's attention, the officer brings colorful balloons and jars of bubbles. Later, Heather tells her parents all about the balloons and bubbles but cannot remember any of the safety rules the officer talked about. Heather obviously paid more attention to what was

• A) salient.
• B) relevant.
• C) habituated.
• D) intended.

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Definitions:

Market Power

The ability of a company or entity to influence or control the terms and conditions of the market to some degree, affecting prices and competition.

Externalities

Financial consequences for unrelated third parties, which can manifest as either positive or negative effects.

Perfectly Competitive

Describes a market structure where many firms sell identical products, there are no barriers to entry, and no single buyer or seller can influence the market price.

Allocate Resources

The process of distributing available resources, such as labor, capital, and land, among various uses to fulfill societal needs and wants.