The Question of Whether Free or Regulated Markets Are Better

question 11

Multiple Choice

The question of whether free or regulated markets are better for society lies at the center of much debate in economics and politics.However,for many economic sociologists that question is too abstract because:

• A)regulation is not an either/or issue but a matter of degree
• B)a market may be more or less regulated
• C)markets may be regulated differently for different groups
• D)the costs and benefits of regulation may be socially distributed in many ways
• E)all of these choices

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Definitions:

Continuous Reinforcement

A method of learning that involves giving a reward after every correct response in order to reinforce the desired behavior.

Secondary Reinforcement

A stimulus that becomes reinforcing through its association with a primary reinforcer.

Intermittent Reinforcement

A conditioning schedule in which a reward or punishment is given only some of the time a behavior occurs, leading to more robust responses.

Primary Reinforcement

A stimulus that is inherently rewarding, satisfying a biological need or desire, such as food, water, or shelter.