To Determine Whether or Not a Child Has Reached the Stage

question 112

Multiple Choice

To determine whether or not a child has reached the stage of formal operations, a psychologist might test whether the child can

• A) understand that objects maintain certain properties despite changes in their shape.
• B) speak in complete sentences.
• C) understand that an object continues to exist even when it is out of sight.
• D) answer hypothetical and abstract questions.

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Definitions:

Economic Efficiency

A situation in which resources are used in a way that maximizes the production of goods and services at the lowest cost.

Ideal Economic Efficiency

A situation in which resources are allocated in a way that maximizes the net benefit to society.

Market Failure

Refers to a situation where the allocation of goods and services by a free market is not efficient, often leading to negative externalities.

Externalities

Indirect effects of production or consumption activities on third parties, which can be either positive or negative and are not reflected in market prices.