An Opportunity Cost Is the Foregone Benefit of Choosing to Do

question 10

True/False

An opportunity cost is the foregone benefit of choosing to do one thing instead of another.

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Definitions:

Operant Learning

A method of learning that employs rewards and punishments for behavior, emphasizing the effects of consequences on behavior.

Reinforcement

In behavioral psychology, a stimulus or event that follows a behavior and increases the likelihood of the behavior's recurrence.

Punishment

A consequence applied to decrease or eliminate an undesired behavior; often used in the context of behavior modification techniques.

Operant Conditioning

A method of learning that utilizes rewards and punishments for behavior, aiming to increase the likelihood of desirable responses and decrease the likelihood of undesired ones.