The Economic Way of Thinking Includes

question 134

Multiple Choice

The economic way of thinking includes:

• A) attention paid to the opportunity costs involved in any choice.
• B) the assumption that individuals choose to average out some objective.
• C) concern with the biological make up of decision makers.
• D) emphasis on how choices affect total values rather than marginal values.

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Definitions:

Operant-Conditioning Phenomena

A learning process where behavior is controlled by consequences like rewards or punishments.

Positive Reinforcement

A technique in behavior modification that involves rewarding a desired behavior to reinforce its occurrence.

Negative Reinforcement

A process in operant conditioning where a response is strengthened by stopping, removing, or avoiding a negative outcome or aversive stimulus.

Emancipation

The act of freeing someone from bondage or slavery; best known historically as the emancipation of enslaved individuals in the United States during the Civil War.