In Psychology, Both the Psychodynamic and Cognitive Perspectives Are Considered

question 183

Multiple Choice

In psychology, both the psychodynamic and cognitive perspectives are considered to be operating at

• A)the biological level of analysis
• B)the psychological level of analysis
• C)the environmental level of analysis
• D)the cognitive level of analysis

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Definitions:

Normal Profit

The level of profit necessary for a company to remain competitive in the market, essentially breaking even when accounting for both explicit and implicit costs.

Implicit Costs

The opportunity costs of using resources owned by the firm for its own use, rather than selling those resources externally.

Economic Profits

The surplus remaining after deducting all costs, including opportunity costs, from total revenues, indicating the financial performance exceeding the break-even point.

Implicit Costs

The opportunity costs that arise from using resources owned by the firm for its own production instead of earning revenue from these resources elsewhere.