When the Government Imposes a Price Ceiling on a Good

question 201

Multiple Choice

When the government imposes a price ceiling on a good whose price is too high,

• A) surpluses are created.
• B) supply will increase to meet the demand.
• C) rationing is not necessary.
• D) quantity demanded of the good will fall.
• E) chronic excess demand occurs.

Understand the concept of antecedents and consequences in the context of operant conditioning.

Describe the process by which voluntary behavior is learned and modified.

Comprehend the importance of consequence management in behavior shaping and modification.

Distinguish between primary and secondary reinforcers and their roles in behavior modification.

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Definitions:

Partnership

A statutory business form that includes shared management responsibilities and profit distribution among several individuals.

Proprietorship

A business model where a single individual owns the company and is responsible for its assets and liabilities, also known as a sole proprietorship.

Single Individual

Refers to one person acting in a capacity, either personally or legally, without partnership or company.

Business

An organization involved in the trade of goods, services, or both to consumers.