The Specialization in Production Made Possible by the Use of Money

question 77

Multiple Choice

The specialization in production made possible by the use of money to avoid barter is an illustration of the:

• A) scarcity principle.
• B) principle of comparative advantage.
• C) cost-benefit principle.
• D) principle of increasing opportunity cost.

Identify the processes and agents involved in social control.

Comprehend the impact of technology on the evolution of crime.

Understand the principles behind and critiques of deterrence theory.

Appreciate the global context and comparisons regarding incarceration and crime rates.

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Definitions:

Cycle

A sequence of events or processes that recur regularly, returning to the starting point and often leading to predictable outcomes.

Expectancy Theory

A theory that explains the behavioral process of why people choose one behavioral option over others, suggesting that individuals are motivated by an expected outcome.

Cognitive Dissonance

The psychological discomfort experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time.

Sales Revenue

Sales revenue is the total amount of money earned from selling goods or services before any costs or expenses are deducted.