A Prime Function of an Organized Commodity Exchange Is to Furnish

question 24

Multiple Choice

A prime function of an organized commodity exchange is to furnish an established marketplace where:

• A)commodity prices can be controlled.
• B)sellers of the same commodity can come together to set prices.
• C)products that are difficult to grade can be traded.
• D)there are only a limited number of buyers and sellers.
• E)the forces of supply and demand operate freely.

---

Definitions:

Variable-interval

In operant conditioning, a reinforcement schedule in which a response is rewarded after an unpredictable amount of time has passed.

Fixed-ratio

A schedule of reinforcement where a response is reinforced only after a specified number of responses.

Variable-ratio

A schedule of reinforcement where a response is rewarded after an unpredictable number of responses, making it a powerful maintenance strategy.

Conditioned Reinforcer

A stimulus that has acquired the capacity to strengthen desirable behavior through its association with a primary reinforcer.