The Law of ___________ States That Objects Are More Likely

question 6

Multiple Choice

The law of ___________ states that objects are more likely to be perceived as "belonging together" when they are positioned close to one another.

• A) proximity
• B) repetition
• C) similarity
• D) unity

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Definitions:

Opportunity Cost

The cost of forfeiting the next best alternative when making a decision or investment.

Next Best Use

An economic concept referring to the most profitable or valuable alternative use of a resource if it is not used in its current manner.

Prime Rate

The interest rate that commercial banks charge their most creditworthy customers, usually large corporations.

Present Value

The current value of a future sum of money or stream of cash flow given a specified rate of return.