A School Issues Tokens to the Children for Good Behavior

question 134

Multiple Choice

A school issues tokens to the children for good behavior. This issue of a token is an example of __________

• A) classical conditioning.
• B) instinctive drift.
• C) primary reinforcement.
• D) behavior modification.

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Definitions:

Price

The cost in financial terms anticipated, necessitated, or disbursed for something.

Monopoly

A market structure characterized by a single seller, selling a unique product in the market with no close substitutes.

Purely Competitive Industry

An industry characterized by many buyers and sellers, free entry and exit, and a standardized product, leading to firms being price takers.

Monopolist

A market participant that is the sole provider of a good or service, thus controlling the entire market and having the ability to set prices unilaterally.