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these are just a few miscellaneous things that don't really fit into any other sets... these will mostly help with the multiple choice.

everything has a cost, people choose for good reasons, incentives influence people's choices, economic systems influence people's choices, people gain from voluntary trade, people's choices influence the value of a good or service, people's choices may have un-intended consequences, choices made today affect what happens tomorrow

name the 8 principles of economic thinking

Land, labor, capital, entrepreneurship

the four economic resources

Market Economy

type of economy where there is individual choice, voluntary exchange, and competition

Command Economy

an economy with strong government control and the government owns some or all factors of production

Mixed Economy

an economic system where there are elements of both systems


a type of mixed economy where the consumers decide what is made, there is private ownership of the factors of production, the goal is a profit, and the government takes a limited role


type of mixed economy where government owns all factors of production, and the gov't uses powers to distribute resources equally


type of mixed economy where government owns all means of production and distribution, and the gov't dictates all parts of life.

Reference Group

any group whose attitude you adopt


a group that separates themself from other groups through similar dress, view themselves positivley and others negativley, and compete with out-groups

Contrived Group

a group created for a specific purpose

Social Group

a group that provides safety and solidarity, a combination of primary and secondary group


a set of two or more people who interact on a basis of shared expectations who possess some degree of common identification


active participation and seeing tasks through until their completion

Age, mood control, dominance, energy, physique, appearance

6 items with the lowest correlation to leadership

capacity, achievement, responsibility, participation, status, situation

6 most important traits in relation to leadership

Drive, motivation, honesty, self confidence, cognitive ability, knowledge of business

core traits of a leader


a way of running a group that involves structure, good communication, and methodology


a way of running a group that involves friendships, trust, and respect


the worst type of leadership that is neither task or relationship oriented

Fred Fielder

came up with the contingency theory

Ralph Stogdill

questioned the trait theory


symptom of groupthink where everyone feels reassured about obvious problems


symptom of groupthink where the group comes up with solutions as problems arise, past problems are blamed on outside factors beyond your control


symptom of groupthink where the group doesn't think about the ethical or moral consequences of their actions


symptom of groupthink where the ingroup has a view of the outgroup that makes them think that differences don't make a difference and assume things


symptom of groupthink where anyone who thinks differently is forced to agree with the group's consensus


symptom of groupthink where a person stops themselves from expressing their own doubts


symptom of groupthink where everyone thinks that the others are thinking the same thing, and they don't want to be the different one


symptom of groupthink where several members of the group are protecting the leader from knowledge of conflicting opinions

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