In Economics We Learn That

question 343

Multiple Choice

In economics we learn that

• A) sometimes there is such a thing as a "free lunch."
• B) opportunity costs are all of the possible alternatives given up when we make a choice.
• C) tradeoffs allow us to avoid the problem of opportunity cost.
• D) None of the above answers is correct.

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Definitions:

Attitude Object

Any entity that is the focus of an individual's attitude, including people, products, or concepts.

Zajonc's Hierarchy

A theory that proposes the sequence of cognitive processes involved in the appraisal of stimuli, emphasizing the primacy of affective responses over cognitive evaluations.

Effects Model

A model or theory in the fields of psychology or communication that describes the potential impacts of media and messages on individuals or societies.

ABC Model

A framework in cognitive behavioral therapy (CBT) that describes the relationship between an event (Activating event), beliefs (Beliefs), and consequences (Consequences).