An Individual's Consumption and Saving Behaviour During a Given Year

question 23

Multiple Choice

An individual's consumption and saving behaviour during a given year, as a result of a planning process that considers his or her lifetime economic situations, is known as the

• A)consumption model.
• B)life-cycle model.
• C)leisure-income model.
• D)lifetime model.

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Definitions:

Clinical Conditioning

Clinical conditioning involves the application of classical conditioning principles in therapeutic settings to modify behaviors.

Stimulus

Any internal or external event or situation that influences an individual's response or reaction.

Routine

A sequence of actions regularly followed; a fixed program.

Ritual

A set of fixed actions and sometimes words performed regularly, especially as part of a ceremony or for its symbolic value.