The Goal of the Firm, According to Economists, Is to

question 51

Multiple Choice

The goal of the firm, according to economists, is to

• A) stay in business for as long as possible.
• B) sell as many units of the good it produces as possible.
• C) grow as large as possible.
• D) make as much economic profit as is possible.

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Definitions:

Biological Makeup

The genetic and physiological characteristics that define an individual's biology, including genetic code, organ functioning, and hormonal levels.

Internal Mental Events

Psychological phenomena that occur within the mind, including thoughts, feelings, and perceptions, not directly observable by others.

B.F. Skinner

A psychologist from America recognized for his contributions to the field of behaviorism and for creating the operant conditioning theory.

John Watson

A pioneering figure in psychology known for establishing the behaviorist school of thought.