Other Things Being Equal, an Increase in the Price of Gasoline

question 363

True/False

Other things being equal, an increase in the price of gasoline will decrease the quantity demanded for gasoline. ​

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Definitions:

Incentive

A factor, often external, that motivates or encourages an individual to act in a certain way.

Goal Object

The target or endpoint of an individual's efforts or ambitions.

Partial Reinforcement

A conditioning schedule in which a reward is not provided every time the desired response is exhibited, making the response more resistant to extinction.

Continuous Reinforcement

A reinforcement schedule in which a reward follows every correct response, often used to teach new behaviors.