While Piaget Focused on the Individual in Forming His Theory

question 108

Multiple Choice

While Piaget focused on the individual in forming his theory of development, an important component was:

• A) the role of the environment.
• B) the importance of inherited traits.
• C) the effect of genes.
• D) prenatal influences.

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Definitions:

Accounting Profits

The total revenue of a company minus the explicit costs and depreciation.

Normal Profits

The return to the business owners for the opportunity cost of their implicit inputs.

MRP

Marginal Revenue Product, a term in economics that represents the additional revenue generated by employing one more unit of a factor, such as labor or capital.

Investment

The allocation of resources, such as capital or time, in order to generate future profit or income.