The "Invisible Hand" Refers to the Notion That

question 27

Multiple Choice

The "invisible hand" refers to the notion that

• A) competitive markets send resources to their highest valued uses.
• B) government intervention is necessary to ensure efficiency.
• C) marginal benefit decreases as more is consumed.
• D) marginal cost increases as more is produced.
• E) no matter what allocation method is used, the resulting production is efficient.

Differentiate between primary and secondary reinforcers with examples.

Comprehend the implications of Thorndike's law of effect on learning and behavior.

Distinguish between positive and negative reinforcement and punishment, and their implications for behavior modification.

Contrast associative learning with observational learning, outlining their characteristics and differences.

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Definitions:

Relearning

The process of learning material or skills that were previously learned and then forgotten.

Prefrontal Cortex

The front part of the frontal lobes of the brain, involved in complex behaviours including planning, decision making, and moderating social behaviour.

Amygdala

A part of the brain involved in processing emotions, particularly fear and pleasure.

Cerebellum

A region of the brain that plays a significant role in motor control, balance, and coordination.