The Term Semantic Memory Can Be Defined as

question 50

Multiple Choice

The term semantic memory can be defined as

• A) events that happened in one's own life.
• B) information that can be associated with a certain date in the past.
• C) knowledge in one's own area of expertise.
• D) our well-organized knowledge about the world.

---

Definitions:

Substitution Effect

The change in consumption patterns due to a change in the relative prices of goods, leading consumers to replace more expensive items with cheaper alternatives.

Income Effect

The change in an individual's consumption patterns due to a change in their real income, typically following a price change of goods.

Indifference Curve

A graph showing a combination of two goods that give a consumer equal satisfaction and utility, representing preferences without implying greater or lesser utility.

Convex

A shape that curves outward, or a mathematical concept that implies a set or function that holds certain properties related to this outward curvature.