Development Refers to an Increase In

question 133

Multiple Choice

Development refers to an increase in:

• A)productive capacity with no change in output.
• B)output with no change in productive capacity.
• C)output brought about by an increase in inputs.
• D)output brought about by a change in the production function.

Explain the function of money as a medium of exchange.

Identify the flow of revenues and expenditures in the market system through the circular flow diagram.

Acknowledge the concept of costs and how they are determined in the market system.

Understand the guiding principles of the market system, including the roles of price, specialization, and competition.

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Definitions:

Independent Variable

A variable that is manipulated or controlled in an experiment to test its effect on a dependent variable.

Disciplining Strategy

An approach or method applied in various contexts, including parenting and education, to correct or guide behavior towards desired outcomes.

Logic And Reason

The process of using systematic principles to come to conclusions that are free from bias or inconsistency.

Rewards And Punishment

Concepts in behavioral psychology, where rewards are used to reinforce desired behavior, and punishment is used to reduce or eliminate undesired behavior.