When a person makes exaggerated generalizations about a group, he or she is engaging in

stereotyping

Explanation:

Stereotyping happens as someone has expectations about every single person according to the social group he belongs to:

The stereotypes are innacurate assumptions from generalizations that will not always incide in the reality of getting to know someone individually.

If we assume, someone  being Asian, Latin, etc, then we tend to act based on this prejudice, or stereotyping adscribing false abilities, preferences according to the images we form ourselves around these social groups.

Stereotypes are mental representations, pictures in our heads that often lead us to distorted or misconceptions when meeting someone in particular.

changes in factors like average income and preferences can cause an entire demand curve to shift right or left. this causes a higher or lower quantity to be demanded at a given price. demand curves relate the prices and quantities demanded assuming no other factors change. it is important for consumers to know this information, because it is crucial for them to know what they can afford and can't afford. i hope this .