Social-Cognitive Learning Theory Is the School of Psychology That Accounts

question 175

True/False

Social-cognitive learning theory is the school of psychology that accounts for behaviour in terms of observable acts and events, without references to mental events.

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Definitions:

Marginal Benefits

The bonus satisfaction or utility acquired from consuming an additional unit of a product or service.

Marginal Costs

The increase in expense associated with manufacturing an additional unit of a product or service.

Moral Hazard

A situation in which one party engages in risky behavior or fails to act in good faith because the negative consequences are borne by another party.

Coase Theorem

An economic theory that suggests that if trade in an externality is possible and there are no transaction costs, parties can negotiate solutions to conflict that lead to an efficient outcome regardless of the initial allocation of property.