In the Figure Given Below D₁ and S₁ Are the Original

question 51

Multiple Choice

In the figure given below D₁ and S₁ are the original demand and supply curves.
Figure 3.1

-Refer to Figure 3.1. Given D₁, if supply moves from S₁ to S₂ it implies:

• A) quantity supplied has increased.
• B) demand will decrease from B to A.
• C) a surplus will exist equal to AB.
• D) supply has decreased, and equilibrium price and equilibrium quantity will move to G and B respectively.
• E) supply has decreased, and equilibrium price and equilibrium quantity will move to E and A respectively.

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Definitions:

Operant Conditioning

An educational method in which a behavior's potency is changed through either incentives or disciplinary actions.

Social Learning Theory

A theory that posits that people learn from one another, via observation, imitation, and modeling.

Bandura

Bandura refers to Albert Bandura, a psychologist best known for his work on social learning theory and the concept of self-efficacy, emphasizing the role of observational learning, imitation, and modeling in behavior.

Watson

John B. Watson is known as the father of behaviorism, emphasizing the study of observable and measurable behaviors.