Instructions: Explain/Define the Following Terms

question 21

Short Answer

Instructions: Explain/Define the following terms.
Semitic

Identify and describe methods used to study infant perception and learning.

Analyze the role of errors in understanding cognitive development and thought processes in children.

Recognize the limitations and criticisms of Piaget's theory of cognitive development.

Understand information-processing approaches to cognitive development and their focus on cognitive processes and strategies.

---

Definitions:

Income Effect

The change in an individual's or economy's income and how that change will affect the quantity demanded of a good or service.

Substitution Effect

The change in quantity demanded resulting from a change in the price of a good, making other goods more or less expensive relative.

Saving

The process of setting aside a portion of current income for future use or investment.

Capital Income

Income generated through investments, such as dividends from stocks, interest from bonds, or rent from real estate, as opposed to earned income from labor.