The Concept of Mental Age

question 22

Multiple Choice

The concept of mental age

• A) was central to Binet's and Simon's approach to the measurement of intelligence
• B) is identical to Wechsler's idea of the IQ
• C) is useful in the measurement of adult intelligence
• D) was the basis of Yerkes's Alpha and Beta tests of intelligence

---

Definitions:

Price Cuts

Reductions in the selling price of goods or services, often used as a strategy to increase demand or market share.

Profit-Maximizing Firm

A business whose primary objective is to achieve the highest possible profits through its operations and investments.

Market Share

The part of the market under the control of a specific company or product.

Kinked Demand Curve

A theory in economics suggesting that prices for a product have a tendency to stay stable because competitors will match price decreases but not price increases.