The Study of Individual Choice and Its Implications for the Behavior

question 29

Multiple Choice

The study of individual choice and its implications for the behavior of prices and quantities in individual markets is:

• A)microeconomics.
• B)a normative economic principle.
• C)the Scarcity Principle.
• D)macroeconomics.

---

Definitions:

Cannon-Bard

A theory of emotion that argues emotional feelings and physiological responses to stimuli occur simultaneously and independently.

Cognitive Mediational

Relating to the theory that cognitive processes mediate the relationship between stimuli and emotional responses.

Schachter and Singer

Psychologists who proposed the two-factor theory of emotion, suggesting that emotion comes from a combination of physiological arousal and cognitive labeling of that arousal.

Nucleus Accumbens

A brain structure that plays a central role in the reward circuit, associated with pleasure, reinforcement learning, and addiction.