Scarcity Is

question 3

Multiple Choice

Scarcity is:

• A) a fact of life because of limited resources.
• B) not a problem for Bill Gates because he is a billionaire.
• C) can be eliminated by rational decision making.
• D) is a problem studied in microeconomics but is not a macroeconomic concern.

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Definitions:

Reinforcer

Any stimulus, which, when presented after a response, increases the likelihood of that response occurring in the future.

Seamstress

A person, typically a woman, who sews, especially one who makes their living by sewing.

Fixed-Ratio Schedule

A schedule of reinforcement where a response is reinforced only after a specified number of responses, commonly used in behavior analysis.

Variable-Ratio Schedule

A reinforcement schedule used in operant conditioning that rewards a response after an unpredictable number of responses, leading to high and steady response rates.