_____ Refers to the Decision Processes and Actions of People

question 43

Multiple Choice

_____ refers to the decision processes and actions of people who purchase and use products.

• A)Buying behavior
• B)Distributing
• C)Franchising
• D)Entrepreneurship
• E)Market orientation

Recognize the concepts of economic efficiency, unemployment, and the potential for economic growth.

Understand the difference between economic resources and non-resources, especially the role of money in the economy.

Explain the effects of technological advancements and resource changes on the production possibilities curve.

Understand the key figures and their roles in American politics and society during the early 19th century.

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Definitions:

Typicality Effect

The phenomenon whereby experimental participants are faster to respond to typical instances of a concept (e.g., robin for the concept “bird”) than to atypical instances (e.g., penguin for the concept “bird”).

Cognitive Economy

A principle of hierarchical semantic networks such that properties and facts about a node are stored at the highest level possible. For example, the fact “is alive” would be stored with the node for “animal” rather than stored with each node under animal such as “dog” and “cat.”

Encoding Specificity

A principle of retrieval asserted by Tulving. At the time material is first put into long-term memory, it is encoded in a particular way, depending on the context present at the time. At the time of recall, the person is at a great advantage if the same contextually supplied information available at encoding is once again available.

Connectionism

An approach to cognition emphasizing parallel processing of information through immense networks of interconnected nodes. Models developed in the connectionist tradition are sometimes declared to share certain similarities with the way collections of neurons operate in the brain; hence, some connectionist models are referred to as neural networks.