Marginalism Is

question 201

Multiple Choice

Marginalism is

• A) the best alternative that we forgo when making a decision.
• B) the study of how societies choose to use scarce resources.
• C) a market situation in which profit opportunities are eliminated almost instantaneously.
• D) the process of analyzing the additional costs or benefits arising from a decision.

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Definitions:

Psychoactive Medications

Drugs that have an effect on the mind, mood, or behavior, used to treat a variety of mental health conditions.

Basic Elements

Fundamental components or building blocks of a broader concept, structure, or system.

Titchener

Titchener, Edward Bradford, was a psychologist who founded structuralism, an early school of psychology focusing on introspection to identify the basic components of consciousness.

Consciousness

The condition or characteristic of being conscious or cognizant of an external object or something internal to oneself.