A Basic Premise of Adam Smith's Is

question 31

Multiple Choice

A basic premise of Adam Smith's is

• A) human beings try to avoid acquisitive behavior.
• B) when people are left to pursue their own economic interests, disaster looms.
• C) the division of labor, though good for the firm, reduces overall efficiency.
• D) we can secure what we need from others only by offering them something they need from us.

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Definitions:

Nonmanipulated Independent Variable

An independent variable for which condition assignment is determined by a characteristic of the participant.

Dependent Variable

The experimental variable measured by the experimenter and used to compare groups.

College Education

College education refers to the post-secondary learning experience offered by colleges and universities, leading to the award of a degree, diploma, or certificate.

Law of Parsimony

A principle that suggests when faced with competing hypotheses, the one that makes the fewest assumptions should be selected.