What Were Two Features of the Procedure Which Griffiths Used

question 7

Multiple Choice

What were two features of the procedure which Griffiths used in order to increase the ecological validity?

• A)The study used a fruit machine specially designed for the study and participants could keep any winnings
• B)The study took place in a natural setting and participants bet their own money
• C)The participants did not know they were being studied and bet their own money
• D)None of these answers
• E)The study took place in a natural setting and participants could keep any winnings

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Definitions:

Trade

The activity of buying, selling, or exchanging goods and services between people, firms, or countries.

Comparative Advantage

The ability of a country or firm to produce a particular good or service at a lower opportunity cost than its trade partners.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision. It represents the benefits an individual, investor, or business misses out on when choosing one alternative over another.

Production Possibilities Frontier

A graphical representation showing the maximum quantity of two goods or services that an economy can produce when all resources are used efficiently.