According to the Textbook,which of the Following Must a Firm

question 172

Multiple Choice

According to the textbook,which of the following must a firm in a market economy do today to succeed?

• A)produce new or better goods or services
• B)efficiently organize production
• C)produce existing goods and services at a lower cost
• D)Market firms today must do all of these things.

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Definitions:

Conditional Response

A learned response to a previously neutral stimulus that has become associated with another stimulus through conditioning.

Unconditional Stimulus

In classical conditioning, a stimulus that naturally and automatically triggers a response without any prior learning.

Conditional Stimulus

In classical conditioning, a previously neutral stimulus that, after association with an unconditioned stimulus, comes to elicit a conditioned response.

Unconditional Response

An automatic response to a stimulus that occurs naturally without any need for learning or conditioning.