All Economic Questions Arise Because We

question 184

Multiple Choice

All economic questions arise because we

• A) want more than we can get.
• B) want more than we need.
• C) have an abundance of resources.
• D) have limited wants that need to be satisfied.

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Definitions:

Classical Conditioning

The educational practice of combining two stimuli multiple times, which leads to the response initially induced by the second stimulus being triggered by only the first stimulus in due course.

Innate Unconscious

Refers to the aspects of the mind that are believed to be inherited and operate without conscious awareness, influencing behavior and perceptions.

Conditioning

A process of behavior modification by which a subject comes to associate a desired behavior with a previously unrelated stimulus.

Biscuit

A small baked product that varies significantly in ingredients and texture between countries; in the U.S., typically soft and flaky, in the U.K., closer to a cookie.