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motikmotik
3 years ago
15

How does supply and demand effect businesses

Social Studies
1 answer:
damaskus [11]3 years ago
7 0

If there’s more of a demand for a product and that company has the supply, it is extremely beneficial to both ends.

If there’s more of a demand and not enough supply, this hurts the business because it’ll look bad on their part.

If there’s more supply than a demand, this can become a problem because there is no one to sell it to.

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Pluralistic ignorance is most closely related to<u> Uncertainty condition</u> for social proof.

<h3>What is Pluralistic Ignorance?</h3>

Pluralistic ignorance is a significant cognitive fallacy that all individuals, some more than others, experience. It is the mistaken belief that one's thoughts or values are different than the perceived thoughts of the majority.

Pluralistic ignorance is connected to social norms and other aspects of public behavior. It is evidenced by situations in which individuals have one or more beliefs, values, or priorities that they believe differ from those of the rest of the members of the group.

When everyone in the group is uncertain and looking around for clues to appropriate behavior, the result can sometimes lead to "pluralistic ignorance."

Pluralistic ignorance occurs when individuals infer that the identical actions of the self and others reflect different internal stress.

<u>Three steps to pluralistic ignorance:</u>

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Learn more about Pluralistic Ignorance on:

brainly.com/question/25735916

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