____________ Motivation Causes Us to Participate in an Activity for Our

question 74

Multiple Choice

____________ motivation causes us to participate in an activity for our own enjoyment rather than for any concrete,tangible reward that it will bring to us.

• A)Extrinsic
• B)Intrinsic
• C)Cognitive
• D)Arousal

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Definitions:

Income Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in consumers' income, expressed as a percentage change in demand divided by the percentage change in income.

Inferior Good

is a type of good whose demand decreases when consumer income rises, unlike normal goods, for which demand increases when income rises.

Supply Curve

A graphical representation showing the relationship between the price of a good or service and the quantity of that good or service that a supplier is willing and able to supply at various prices.

Price Elasticity of Supply

A measure of how much the quantity supplied of a good changes in response to a change in its price.