Louie Is 10 Years Old

question 50

Multiple Choice

Louie is 10 years old.He is becoming quite good at arguing with his parents over such topics as what his bedtime should be and whether he has eaten enough of his dinner to have dessert.He loves toys and projects that involve hands-on learning,but cannot yet handle abstract concepts.According to Piaget,Louie is in the ____ stage of cognitive development.

• A)formal operational
• B)sensorimotor
• C)preoperational
• D)concrete operational

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Definitions:

Productive Capacity

The maximum output a company or economy can produce with its current resources and technology, without causing inflation.

Labor Changes

Adjustments in the workforce, including alterations in the number of workers, the quality of labor, or employment conditions.

Unit Elastic

A demand or supply situation where the percentage change in quantity demanded or supplied is exactly equal to the percentage change in price.

Elasticity of Demand

It refers to the responsiveness of the quantity demanded for a product to a change in its price, showing the sensitivity of consumers to price adjustments.