The Doctrine of Specific Nerve Energies States That

question 133

Multiple Choice

The doctrine of specific nerve energies states that:

• A) each type of sensory receptor releases a different type of energy.
• B) different sensory nerves release different neurotransmitters.
• C) each sensory neuron can respond to all sensory modalities.
• D) what a person experiences depends on which nerve was stimulated.

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Definitions:

Economic Profit

The total revenue of a business minus both its explicit costs (like wages and materials) and its implicit costs (like opportunity costs), reflecting the true financial gain.

Normal Profits

The minimum level of profit required for a company to remain competitive in the market, often considered the opportunity cost of capital.

Economic Losses

Financial losses incurred due to inefficiencies, decreased demand, or negative external factors affecting the economy.

Economic Profits

The difference between a firm's total revenue and its total costs, including both explicit and implicit costs, indicating the extra income earned over what could have been earned in the next best alternative.