In General, as Price of a Good or Service Increases

question 90

Multiple Choice

In general, as price of a good or service increases, the quantity demanded

• A) increases.
• B) decreases.
• C) stays the same.
• D) depends on the type of product or service.

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Definitions:

Reinforcement

The act of strengthening a response by adding a reward, thus increasing the likelihood that the response will be repeated.

Operant Behaviors

Actions that an individual takes that are modified by the consequences they lead to, extensively studied in operant conditioning.

Respondent Behaviors

Automatic responses elicited by specific stimuli, based on the principle of classical conditioning in psychology.

Variable-ratio Schedule

A reinforcement schedule in operant conditioning where a response is rewarded after an unpredictable number of responses.