Describe the Social Exchange Theory of Relationships

question 16

Essay

Describe the social exchange theory of relationships.What assumption of this model is shared with the reinforcement-affect model?

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Definitions:

Marginal Utility

The added utility or pleasure derived by a consumer from consuming another unit of a good or service.

Additional Satisfaction

The joy or utility gained from consuming one more unit of a good or service.

Diminishing Rate

A principle stating that as one factor of production increases, while others stay constant, the resulting increase in output will eventually decrease.

Total Utility

The entire pleasure derived from using a certain total volume of a good or service.