The Term "Opportunity Cost" Points Out That

question 97

Multiple Choice

The term "opportunity cost" points out that

• A) not all individuals will make the most of life's opportunities because some will fail to achieve their goals.
• B) there may be such a thing as a free lunch.
• C) executives do not always recognise opportunities for profit as quickly as they should.
• D) any decision regarding the use of a resource involves a costly choice.

Recognize the exclusionary aspects of Progressive freedom definitions, particularly towards certain immigrant groups.

Examine the motives and conditions affecting African-Americans during the Great Migration.

Acknowledge the role of eugenics in shaping policies and ideologies in early 20th century America.

Understand the impact of WWI on U.S. society, including changes in immigration policy, societal reactions to ethnic groups, and the shaping of national policies and ideologies.

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Definitions:

Availability Heuristic

A mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.

Stereotypes

Oversimplified generalized beliefs about a group of people that may not accurately represent the diversity within the group.

System I

A term often used to describe fast, automatic, intuitive forms of thinking, as opposed to slower, more rational deliberation.

System II

A term used in cognitive psychology to refer to the analytical, effortful, and slower mode of thinking, as opposed to the fast, automatic, intuitive thinking of System I.