When a Wealthy Businessman Is Unable to Buy Tickets to the Super

question 560

Multiple Choice

When a wealthy businessman is unable to buy tickets to the Super Bowl, he or she experiences
)

• A) opportunity costs
• B) scarcity
• C) economics
• D) the fallacy of composition

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Definitions:

Conditioning

A process of behavior modification by which a subject comes to associate a desired behavior with a previously unrelated stimulus.

Negative Contrast Effects

A psychological phenomenon where an individual's perception of an option is negatively influenced by a comparison with a better option.

Reinforcement

A process in operant conditioning that increases the likelihood of a behavior being repeated, which can be either positive (by adding a stimulus) or negative (by removing a stimulus).

Negative Contrast Effect

The effect in which a shift from high to low reward magnitude produces a lower level of responding than if the reward magnitude had always been low.