The Tendency to Keep Making the Same Mistake Over and Over

question 8

Multiple Choice

The tendency to keep making the same mistake over and over is referred to as making a(n) _____ error.

• A) preservation
• B) mediation
• C) utilization
• D) organization

---

Definitions:

Equilibrium Wages

The salary level where the amount of work offered matches the amount of work sought in the employment market.

Recession

A period of temporary economic decline during which trade and industrial activity are reduced, usually identified by a fall in GDP in two successive quarters.

Opportunity Cost

The price paid for not selecting the next most favorable choice during a decision-making process.

Marginal Productivity

The additional output that is produced by using one more unit of a particular input, holding all other inputs constant.