In psychological terms, perception is defined as our recognition and interpretation of sensory information, as well as how we respond to the information.
To understand perception, information technology and literacy instructor Yolanda Williams asks us to think of it “as a process where we take in sensory information from our environment and use that information in order to interact with our environment. Perception allows us to take the sensory information in and make it into something meaningful.”
In order to help us better understand supply and demand, economists have placed the things we buy into different categories. One such category is a positional good, described by Dr. Sheldon Cooper as “an economic concept in which an object is only valued by the possessor because it’s not possessed by others.”
We have a tendency to overuse certain words. I know this because on an annual basis many media outlets publish lists of the most overused words of the year. It usually happens in December to commemorate the end of the year.