Explain the Difference Between Extensional Orientation and Intensional Orientation

question 9

Essay

Explain the difference between extensional orientation and intensional orientation. Give an example and discuss why intensional orientation is to be avoided.

Recognize the factors determining whether a country exports or imports a particular good.

Understand the role of opportunity costs in determining comparative advantage.

Analyze how international trade affects domestic economies, including producers and consumers.

Identify the importance of productivity and labor costs in international competition.

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Definitions:

Structuralism

A theory in psychology and sociology focusing on the components of mental processes, societies, and other phenomena.

Psychiatry

A branch of medicine dealing with psychological disorders; practiced by physicians who sometimes provide medical (for example, drug) treatments as well as psychological therapy.

Cognitive Neuroscience

The study of the neural mechanisms underlying cognition, focusing on the neural connections involved in mental processes.

Introspection

The examination and analysis of one's own thoughts, feelings, and sensations; a method used in psychology and philosophy.