The Concept of Scarcity Applies Both to Bill Gates and a Homeless

question 159

Multiple Choice

The concept of scarcity applies both to Bill Gates and a homeless person because

• A) both have the same legal rights.
• B) they have the same access to the markets for goods and services.
• C) there are only 24 hours in the day for both of them.
• D) they are both consumers.
• E) both must breathe air in order to livE.

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Definitions:

Negative Reinforcement

A concept in behavioral psychology where the removal of an unfavorable outcome or stimulus strengthens the behavior that led to its removal.

Positive Reinforcement

A strategy in behavior modification that involves the addition of a rewarding stimulus following a desired behavior, with the aim of increasing that behavior.

Punishment

The imposition of a penalty or sanction on an individual or entity for violating rules, norms, or expectations.

Unpleasant Event

An occurrence that causes discomfort or distress to individuals involved.