Natural Concepts ____

question 83

Multiple Choice

Natural concepts ____.

• A) have fuzzy boundaries
• B) are usually learned formally
• C) usually use rigid rules to define their elements
• D) are typically universally held by all people

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Definitions:

Budget Constraint

A limitation on the consumption choices of individuals or firms, dictated by their income and prices of goods.

Budget Constraint

A budget constraint represents the combinations of goods and services that a consumer can purchase given their income and the prices of those goods and services.

DVDs

Optical disc storage format used to store high capacity data like movies, software, and other digital content.

CDs

Short for Certificates of Deposit, which are savings certificates with a fixed maturity date and specified fixed interest rate that are issued by banks.