Explain How Market Economies Are Generally Better Able to Achieve

question 232

Essay

Explain how market economies are generally better able to achieve technological progress than are centrally planned economies.

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Definitions:

Reinforcement

Reinforcement is a principle in behavioral psychology where the likelihood of a behavior is increased by following it with a positive stimulus or removing a negative one.

Stimulus Generalization

The tendency for the conditioned response to be evoked not only by the conditioned stimulus but also by stimuli similar to the conditioned stimulus.

Gradual Acquisition

The slow and incremental process of obtaining or developing skills, knowledge, or abilities over time.

Extinction

In psychology, the gradual weakening and disappearance of a conditioned response. In biology, the permanent loss of a species.