When the Competitive Market System Does Not Allocate Resources to Economically

question 90

Multiple Choice

When the competitive market system does not allocate resources to economically desirable goods,economists say what has occurred?

• A) Market failure
• B) Government failure
• C) Externalities
• D) Productive inefficiency

Recognize and describe the types of needs according to McClelland, including the need for achievement, affiliation, and power.

Apply the concept of psychological needs to interpret real-life situations.

Analyze the impact of specific needs on individual behavior and motivation.

Identify and evaluate the psychological factors contributing to stress.

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Definitions:

Absolute Threshold

The smallest level of stimulus that can be detected by a sense, such as the faintest sound that can be identified.

Transduction

The process of converting one form of energy into another, such as converting light waves into neural signals by the sensory organs.

Absolute Threshold

The smallest intensity of a stimulus that can be detected by an organism's sensory systems 50% of the time.

Signal Detection

A theory that aims to quantify the ability to discern between information-bearing patterns and random patterns that distract from the information.