One of the Ten Principles of Economics in Chapter 1

question 133

Multiple Choice

One of the Ten Principles of Economics in Chapter 1 is that people face tradeoffs.The growth that arises from capital accumulation is not a free lunch.It requires that society

• A)conserve resources for future generations.
• B)sacrifice consumption goods and services now in order to enjoy more consumption in the future.
• C)recycle resources so that future generations can produce goods and services with the accumulated capital.
• D)None of the above is correct.

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Definitions:

Persistent Behavior

A continuous, repeated pattern of actions or tendencies that are exhibited over time, often resisting change.

Token Economy

A form of behavior modification based on the systematic reinforcement of target behavior, through the use of tokens that can be exchanged for other rewards.

Fixed-Ratio Schedule

A reinforcement schedule in operant conditioning where a response is reinforced only after a specified number of responses have occurred.

Intensive Study

An in-depth investigation or analysis concentrated on a specific subject or phenomenon over a limited period.