Question

"Evidence reveals that psychological factors play an important role in determining the expectations of market traders, and these expectations become self-fulfilling prophecies. When traders all move in one direction at the same time, this is known as _____________________________."

Answer 1

Answer:

the bandwagon effect

Explanation:

The bandwagon effect is a phenomenon whereby the rate of uptake of beliefs, ideas, fads and trends increases the more that they have already been adopted by others

Answer 2

Evidence reveals that psychological factors play an important role in determining the expectations of market traders, and these expectations become self-fulfilling prophecies. When traders all move in one direction at the same time, this is known as the bandwagon effect.

Answer:

The Bandwagon Effect.