Briefly Explain How Markets Determine Wages and Where This Can

question 31

Essay

Briefly explain how markets determine wages and where this can lead.

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Definitions:

Behavior Modification

The application of operant-conditioning techniques to teach new responses or to reduce or eliminate maladaptive or problematic behavior; also called applied behavior analysis.

Puzzle Boxes

Experimental devices used in animal learning research, where an animal must solve a problem or manipulate mechanisms to escape or obtain a reward.

Thorndike

An American psychologist who developed the law of effect, which states that behaviors followed by positive outcomes are likely to be repeated, while those followed by negative outcomes are not.

Skinner Box

An experimental apparatus developed by B.F. Skinner for studying behavioral conditioning in animals, particularly through the use of reinforcements.