In Economics,tastes and Preferences Refer to _____

question 115

Multiple Choice

In economics,tastes and preferences refer to _____

• A)consumption.
• B)income.
• C)prices.
• D)utility.
• E)trends.

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Definitions:

Performance Targets

These are specific goals set for employees or departments to achieve within a certain timeframe to measure effectiveness.

Bonus Pay Plans

Financial incentives provided to employees based on performance.

Law Of Effect

A psychological principle suggesting that behaviors followed by positive outcomes are likely to be repeated, whereas those followed by negative outcomes are less likely to be repeated.

Reinforcement Theory

A concept in behavioral psychology based on the idea that behavior can be shaped by controlling the consequences to those behaviors, emphasizing the use of reinforcement and punishment.