Individual Differences in the Ability to Acquire Knowledge, to Think

question 82

Multiple Choice

Individual differences in the ability to acquire knowledge, to think and reason effectively, and to deal adaptively with the environment is called:

• A) intelligence
• B) divergent thinking
• C) convergent thinking
• D) propositional thought

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Definitions:

Tax Burden

The measure of the total taxes paid by an individual, corporation, or another entity relative to its income, assets, or consumption levels.

Elastic

A characteristic of a good or service that indicates a greater than proportional change in quantity demanded or supplied in response to price changes.

Inelastic

Describes demand or supply that is relatively unresponsive to price changes, meaning quantity demanded or supplied changes little when price changes.

Unitary Elasticity

A situation where a one percent change in the price of a product results in a one percent change in the quantity demanded.