According to Piaget's Theory of Cognitive Development, the Ability to Think

question 61

Multiple Choice

According to Piaget's theory of cognitive development, the ability to think about things that are not concrete, make predictions, and use logic to come up with hypotheses about the future is attained during the _____ stage.

• A)preoperational
• B)concrete operational
• C)formal operational
• D)sensorimotor

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Definitions:

Competitive Fringe

Small, less dominant firms in a market that compete at the periphery with the larger dominant firms, often by focusing on niche segments.

Price Leader

A company that has a dominant market share and can influence the pricing policies of competitors within the industry.

Dominant Firm Model

A market structure where one firm has a large market share and sets prices, while other smaller firms follow its pricing strategy.

Fringe Firms

Smaller companies in a market that compete alongside larger firms, often by serving niche segments or employing innovative strategies to maintain market presence.