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Describe the four steps used in the scientific approach to study behavior.
Prices
Prices are the amounts of money required to purchase goods or services, serving as a reflection of supply and demand dynamics in a market.
Opportunity Cost
The loss of what could have been earned from other possibilities when one path is taken.
College Degree
A college degree is an academic degree awarded by colleges or universities upon completion of a course of study demonstrating mastery in a specific field of study or professional practice.
Opportunity Cost
The economic disadvantage of forgoing the subsequent best option when a choice is being made.
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