Five-Year-Old Steven Climbs Up the Small Tree in His Parents

question 560

Multiple Choice

Five-year-old Steven climbs up the small tree in his parents' backyard. When he's ready to come down, he begins to cry for his mother to help. Steven's inability to retrace his steps to go back down the tree illustrates that Steven's thinking lacks

• A)animism.
• B)reversibility.
• C)object permanence.
• D)conservation.

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Definitions:

Optimal Utility

The highest level of satisfaction or benefit that a consumer can achieve given their resources.

Consumption Bundle

A consumption bundle is a combination of various goods and services that an individual, household, or economy consumes over a given period.

Inferior Good

A type of good whose demand decreases when consumer income rises, inverse to a normal good.

Indifference Curve

A graphical representation that shows different combinations of two goods among which a consumer is indifferent.