__________ Is the Theory That the Price of Internationally Traded

question 66

Short Answer

__________ is the theory that the price of internationally traded commodities should be the same in every country.

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Definitions:

Externality

A term in economics that describes a cost or benefit that affects a party who did not choose to incur that cost or benefit.

Internality-Externality

A psychological dimension that distinguishes between individuals who attribute outcomes to their own control (internality) and those who attribute them to external forces (externality).

Locus of Control

Locus of control is a psychological concept that refers to individuals' belief about the extent to which the outcomes of their actions are under their own control (internal locus) or influenced by external factors (external locus).

Reinforcement Contingency

Reinforcement contingency is a term in behavioral psychology that refers to the relationship between a behavior and its consequence, emphasizing that a behavior must be followed by a reinforcement for the behavior to be increased.