_____ Occurs Whenever a Person or Animal Forms a Simple

question 32

Multiple Choice

_____ occurs whenever a person or animal forms a simple connection among various stimuli and/or responses.

• A)Associative learning
• B)Insight learning
• C)Vicarious learning
• D)Cognitive learning

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Definitions:

Barriers To Entry

Obstacles that prevent or hinder new competitors from easily entering an industry or area of business.

Long Run

A period of time in economics during which all factors of production and costs are variable, allowing for all possible adjustments, including changes in industry size.

Natural Monopoly

A market structure where a single firm can produce the entire market supply of a particular good or service at a lower cost than any potential competitor.

Network Effects

Network effects occur when the value of a product or service increases as more people use it, making it more attractive and beneficial to users.