When Students Have Misconceptions About a Concept, Helping Them Acquire

question 30

Multiple Choice

When students have misconceptions about a concept, helping them acquire more scientifically acceptable understandings of that concept is difficult. It is most difficult when the student has:

• A) Many minor misconceptions
• B) One major misconceptions
• C) A few well- engrained misconceptions
• D) Many few well- engrained misconceptions

Understand the concept and benefits of specialization and division of labor in an economy.

Identify the functions and importance of money in facilitating trade and specialization.

Recognize the fundamental economic questions every economy faces.

Analyze the factors that foster innovation and technological advancement.

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Definitions:

Fair Market Value

The estimated price at which an asset would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts.

Book Values

A term used in accounting to refer to the value of an asset as reported on the company's balance sheet, calculated as the cost of an asset minus any depreciation or amortization.

Original Costs

The initial amount spent to acquire an asset, including purchase price and all expenses incurred to bring the asset to its intended use.

Written Agreement

A formal contract which outlines the terms and conditions between parties in written form.