Moderate

To assign uniform characteristics to an entire group of people without allowing for individual differences is called_____________?

Correct answer: C. stereotyping

  • A. prejudging
  • B. characterizing
  • C. stereotyping
  • D. discriminating

Explanation

Stereotyping means assigning generalized characteristics to all members of a group while ignoring individual differences. Prejudging refers to forming an opinion in advance, and discrimination refers to unequal treatment.

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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.

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