An External Goal or Motivation That Has the Capacity to Affect

question 166

Multiple Choice

An external goal or motivation that has the capacity to affect behaviour is referred to as ________.

• A)extrinsic
• B)an expectancy
• C)intrinsic
• D)homeostasis

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Definitions:

Labor

The human effort (physical or mental) that is used in the production of goods and services.

Producer Surplus

The difference between the actual amount producers receive for a good and the minimum amount they would be willing to accept.

Firm

A business enterprise or establishment engaged in commercial, industrial, or professional activities.

Normal Good

A type of good for which demand increases when consumer income rises, and falls when consumer income decreases.