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Producing a soccer ball costs Jake $5. He sells it to Darby for $35. Darby values the soccer ball at $50. For this transaction, the total surplus in the market is $40.
Stimulus Motive Theory
The concept that behavior is motivated by a desire to increase stimulation in order to maintain an optimal level of arousal.
Evolutionary Theory
A scientific theory that explains how species change over time through mechanisms like natural selection and genetic variation.
Cognitive Appraisal Theory
A theory in psychology that describes the process in which an individual evaluates and interprets a situation, influencing their emotional reaction.
Maslow's Hierarchy
A theory in psychology proposed by Abraham Maslow, representing a hierarchy of human needs, from basic physiological needs to self-actualization.
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