If you’re talking about supply and demand, demand is how much people want of something, and the suppliers how much of it is available. If there is more demand then there is supply, the price of the product will go up. If there is more supplied and there is demand, the price will go down.
Answer:
Actor/observer bias
Explanation:
In psychology, the actor/observer bias refers to the tendency to attribute our own actions to external causes while attributing other people's behaviors to internal causes.
When the results of a situation are negative, if the negative outcome happened to the person, the person will likely attribute the outcome to external circumstances. But when it comes to other people, the person will attribute the outcome to the other person behaviors, habits or actions.
In this example, Jeremiah falls and thinks the ice is brutal. <u>He is attributing the fall to an external circumstance (the ice)</u>. But then, when his friend Ed falls on the same spot, he says his friend is really clumsy, <u>attributing the fall to an inner characteristic of his friend</u>. Therefore, this would be an example of actor/observer bias.
Answer:
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