An Example of an Extrinsic Reward Would Be a Sense

question 104

True/False

An example of an extrinsic reward would be a sense of increased self-esteem after accomplishing a challenging task.

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Definitions:

Marginal Analysis

An examination of the additional benefits of an activity compared to the additional costs incurred by that same activity.

Insignificant Benefits

Benefits or advantages that are too small or unimportant to make a noticeable difference.

Opportunity Costs

The advantages or gains a person, investor, or company forgoes by selecting one option instead of another.

Economic Resources

Resources required for the production of goods and services, including labor, capital, land, and entrepreneurship.