What an Economic Decision Maker Must Give Up When Choosing

question 51

Multiple Choice

What an economic decision maker must give up when choosing one economic activity over others is known as the

• A) alternative cost
• B) decision cost
• C) foregone cost
• D) opportunity cost
• E) accounting cost

---

Definitions:

Conditioned Stimulus

A stimulus that was neutral at first but, after being associated with an unconditioned stimulus, starts to generate a conditioned response.

Positive Reinforcer

An incentive that, upon being introduced following an action, heightens the probability of the action being performed again.

Temper Tantrums

Emotional outbursts, typically seen in children, that are characterized by yelling, crying, or physical displays of frustration.

Shaping

A training technique where reinforcing behaviors that progressively resemble the target behavior leads to its achievement.