"Wants" as an Economic Concept Includes

question 203

Multiple Choice

"Wants" as an economic concept includes

• A)both material and nonmaterial desires.
• B)only the purchase of necessary basic goods.
• C)only the desire for luxury goods.
• D)only those goods that can be purchased with one's paycheck.

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Definitions:

Expect Good Grades

The anticipation or belief that one will receive high marks or succeed academically.

Conditioned Response

A learned reaction to a previously neutral stimulus that has been repeatedly presented along with an unconditioned stimulus.

Flap Their Wings

A phrase describing the action birds, and some insects, perform to take off, fly, or maintain altitude by moving their wings up and down.

Shock Avoidance

A behavioral principle where organisms learn to perform actions to prevent or avoid an unpleasant or painful stimulus.