Why Is It Necessary for All Economic Systems to Not

question 143

Multiple Choice

Why is it necessary for all economic systems to not only provide people with goods and services,but also restrict them from getting as much of these goods and services as they wish?

• A) Failure to do this could reduce the efficiency of the system by producing some goods and services that are not as highly valued as others.
• B) Failure to do this could lead to an inequitable allocation of goods and services produced.
• C) Failure to do this could lead to drastic shortages of good and services.
• D) Failure to do this could reduces efficiency and leads to an inequitable allocation of output.

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Definitions:

Maximizing Theory

A decision-making strategy aimed at choosing the option that offers the maximum potential benefit.

FR 10 Schedule

A fixed-ratio reinforcement schedule where reinforcement is provided after every tenth correct response, promoting high and steady rates of responding.

FR 40 Schedule

A type of fixed-ratio schedule where reinforcement is provided after a set number of responses, specifically 40 responses in this case.

Operant Chamber

An apparatus that creates an enclosed environment, used for the study of operant behavior within it.