The Process by Which One Learns About New Categories Usually

question 112

Multiple Choice

The process by which one learns about new categories usually based on common features is known as:

• A) negative patterning.
• B) acquired equivalence.
• C) generalization.
• D) concept formation.

---

Definitions:

Price Elasticity

A measure of how sensitive the quantity demanded of a good is to a change in its price.

Quantity Demanded

The overall volume of a good or service buyers are prepared and capable of acquiring at a designated price during a specified period.

Time Horizon

The length of time over which an investment or a project is intended or expected to occur.

Price Elasticity

A quantification of the demand elasticity for a good relative to its price alterations.