Information-Processing Theorists __________

question 104

Multiple Choice

Information-processing theorists __________.

• A) want to know exactly what individuals of different ages do when faced with a task or problem
• B) are satisfied with general concepts, such as assimilation and accommodation, to describe how children think
• C) provide a single, unified theory of cognitive development to describe the human cognitive system
• D) emphasize that children live in rich social and cultural contexts that affect their cognitive development

---

Definitions:

Minimizing Costs

Minimizing costs involves finding the most efficient way to operate that lowers expenses without sacrificing the quality or quantity of output.

Rental Rate

The price paid for the temporary use of a good, service, or property, typically expressed as a fee per time period.

Cost Minimization

The process of reducing expenses to the lowest possible level while still achieving the desired level of output or quality.

Normal Rate Of Return

A rate of return on capital that is just sufficient to keep owners and investors satisfied. For relatively risk-free firms, it should be nearly the same as the interest rate on risk-free government bonds.