Economic Models Are

question 36

Multiple Choice

Economic models are:

• A)set up and used to precisely mirror reality.
• B)useless if they are simple.
• C)made generally of wood,plastic,and/or metal.
• D)potentially useful in forming economic policy.

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Definitions:

Valence

the intrinsic attractiveness or aversiveness of an event, object, or situation, often influencing individuals' motivation.

Equity Theory

A theory of motivation that suggests individuals assess their own input-to-outcome ratios in comparison to others as a measure of fairness in relationships or work situations.

Content Theory

A theory that focuses on identifying and understanding the specific needs that motivate individuals to act in various ways.

J. Stacy Adams

Is known for developing the Equity Theory of motivation, which explains how individuals assess their job satisfaction and motivation through perceived fairness in the workplace.