The Market Mechanism May Best Be Defined as

question 63

Multiple Choice

The market mechanism may best be defined as

• A)The use of market prices and sales to signal desired output.
• B)The use of market signals and government directives to select economic outcomes.
• C)The process by which the production possibilities curve shifts inward.
• D)Price regulation by government.

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Definitions:

Extinction

In behavior psychology, the process where a conditioned response decreases or disappears after the conditioned stimulus is repeatedly presented without the unconditioned stimulus.

Higher-Order Conditioning

A process in classical conditioning where a conditioned stimulus is paired with a new neutral stimulus, creating a second, often weaker, conditioned response.

Spontaneous Recovery

The return of a previously eliminated conditioned response following a break from being exposed to the conditioned stimulus.

Avoidance

A behavior aimed at preventing unpleasant situations or outcomes.