What Would an Increase in the Price of a Resource

question 93

Multiple Choice

What would an increase in the price of a resource cause?

• A) an increase in the price of substitute resources in production
• B) producers to use more of the resource in the production of their goods
• C) consumers to substitute other products for goods that increase in price as the result of the higher resource price
• D) an increase in the demand for products that use the resource intensely

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Definitions:

Reinforced

Made stronger or more pronounced through additional support or material.

Interval Schedules

In operant conditioning, a reinforcement strategy based on the passage of time between reinforcements.

Ratio Schedules

In the context of behavior reinforcement, these are schedules that reward a response only after a specified number of responses.

Performance

The process of performing or executing an action, task, or function, typically evaluated against established norms of precision, thoroughness, and quickness.