If a Fall in Supply and a Rise in Demand

question 30

True/False

If a fall in supply and a rise in demand occur at the same time,then we know that the price must also rise.

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Definitions:

Conditioned Stimulus

A previously neutral stimulus that, after being paired repeatedly with an unconditioned stimulus, begins to trigger a conditioned response.

Unconditioned Stimulus

In classical conditioning, a stimulus that naturally triggers a response without any need for prior learning.

Little Albert

An experiment conducted by John B. Watson and Rosalie Rayner demonstrating classical conditioning by inducing a phobic response in an infant.

Behaviorism

A field of psychology that focuses on observable behaviors rather than on mental processes, and posits that all behaviors are learned through interaction with the environment.