The Price System

question 51

Multiple Choice

The price system

• A) automatically distributes scarce goods.
• B) is inefficient.
• C) requires government help to allocate goods.
• D) is the only way to allocate goods.

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Definitions:

Levels-of-processing Model

A theory suggesting the depth of mental process related to memory retention, from shallow perceptual levels to deeper semantic ones.

Craik and Tulving

Psychologists known for their research on levels of processing theory, which suggests the depth of mental processing affects memory recall.

Atkinson and Shiffrin

Known for proposing the multi-store model of memory, which describes how information is transferred from sensory memory, to short-term memory, and finally to long-term memory.

Penfield and Freud

Refers to no direct association as Penfield was a neurosurgeon known for his work on the human brain, and Freud was a psychoanalyst famous for his theories on the unconscious mind; however, both contributed significantly to the understanding of human psychology.