Define the Following Terms Briefly and Concisely and Indicate Their

question 232

Essay

Define the following terms briefly and concisely and indicate their importance to the study of economics.
a.entrepreneurship
b.investment
c.capital
d.innovation
e.discounting

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Definitions:

Discrimination

The unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, gender, or disability.

Extinction

In behavioral psychology, the process by which a previously reinforced behavior is weakened by no longer being reinforced, leading to a decrease in the occurrence of the behavior.

Generalization

The process by which individuals apply learned behaviors and responses to similar but new situations.

Spread Of Effect

The diffusion of emotional responses or behaviors from one context to another; in learning, it refers to the generalization of behaviors to similar stimuli.