The Value That Society Places on Consumption That Is Sacrificed

question 13

Multiple Choice

The value that society places on consumption that is sacrificed in the present is called

• A)social marginal damages.
• B)social rate of discount.
• C)social returns.
• D)social marginal costs.

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Definitions:

Absolute Thresholds

Absolute thresholds refer to the minimum intensity of a stimulus that is required for a person to detect its presence 50% of the time.

Sensory Adaptation

The process by which sensitivity to stimuli decreases over time as an organism adapts to current conditions.

Perceptual Preferences

Individual differences in the ways people prefer to take in, process, and interpret sensory information from the world around them.

Sensory Systems

The parts of the nervous system that detect changes in the environment and transmit this information to the brain.