Generalized Expectancies Are

question 27

Multiple Choice

Generalized expectancies are:

• A)characteristics of a situation that can be applied generally.
• B)perceptions that generalize from one situation to another.
• C)a person's expectations for reinforcement held across a variety of situations.
• D)None of the answers is correct.

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Definitions:

Advertising Elasticity of Demand

The responsiveness of the quantity demanded of a good to a change in the amount of advertising for that good.

Marginal Cost of Production

The change in total production costs that comes from making or producing one additional item.

Advertising Elasticity of Demand

Measures the responsiveness of the quantity demanded of a good or service to a change in the level of advertising for that good or service.

Rule of Thumb

A general principle that provides practical instructions for accomplishing or approaching a certain task.