What Is Thinking

question 8

Multiple Choice

What is thinking?

• A) mental activity that involves processing, organizing, understanding, and communicating information
• B) spontaneous, nondirected, and unconscious mental activity
• C) simply and succinctly, it is only our ability to remember
• D) all mental activity except memory

---

Definitions:

Rival

A term used in economics to describe a good or service that cannot be consumed by more than one person at the same time, meaning consumption by one person diminishes the ability of another to consume it.

Nonexcludable

A characteristic of a good where it is impossible, or highly costly, to prevent someone from using the good once it has been provided.

Marginal Private Benefits

The additional benefit received by consumers from consuming one more unit of a good or service.

Marginal Social Cost

The total cost to society of producing one additional unit of a good or service.