Examlex
What are the four contingencies of reinforcement? Explain each and provide an example.
Perfectly Inelastic
Describing a situation where demand or supply does not change in response to changes in price.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a specific price.
Price Elasticity
Quantifying the demand shift for an item in response to its price adjustments.
Responsiveness
The ability or tendency of an entity or system to react to changes, stimuli, or feedback from the environment.
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