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INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
A [ savings account | retirement account ] would be an example of a liquid asset.
Law of Effect
A psychological principle suggesting that behaviors followed by positive outcomes are likely to be repeated, whereas behaviors followed by negative outcomes are less likely to be repeated.
Operant Conditioning
A method of learning that employs rewards and punishments for behavior, encouraging the reinforcement of desired behaviors and the discontinuation of undesired ones.
B.F. Skinner
An American psychologist known for his work in behaviorism and the development of the theory of operant conditioning.
Law of Effect
A principle in psychology that states behaviors followed by positive outcomes are likely to be repeated, while those followed by negative outcomes are not.
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