Consumer Sovereignty

question 112

Multiple Choice

Consumer sovereignty

• A) is dependent on profits.
• B) is the idea that consumers can buy whatever they want to.
• C) is the idea that consumers determine what is produced in the economy through their demands.
• D) is only possible in a monarchy.

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Definitions:

Insects

A vast group of arthropods characterized by a chitinous exoskeleton, a three-part body (head, thorax, abdomen), three pairs of jointed legs, compound eyes, and one pair of antennae.

Law of Effect

A principle in behaviorism stating that responses followed by satisfaction will become more likely to occur, and those followed by discomfort will become less likely.

Classical Conditioning

A method of learning in which two stimuli are regularly paired; a response that is initially caused by the second stimulus is eventually caused by the first stimulus alone.

Bandura's Classic

Refers to Albert Bandura's classic social learning theory, which posits that people learn behaviors, attitudes, and emotional reactions through social observation and imitation.