Psychology Is Said to Have Begun When

question 31

Multiple Choice

Psychology is said to have begun when:

• A)medicine was seen to be ineffective in treating neurosis.
• B)Wilhelm Wundt started the first psychological laboratory.
• C)Sigmund Freud opened his private practice in Vienna.
• D)it was discovered in the early 1900s that many illnesses have no medical explanation.

---

Definitions:

Price of Capital

The cost of using capital assets, which can include interest rates on loans used to purchase the assets or opportunity costs of investing capital elsewhere.

Demand for Labor

The total amount of labor that employers want to hire at varying wage rates in a given time period.

Related Resource

Resources that are connected or relevant to one another in such a way that the presence, absence, or alteration of one can affect the other.

Labor Demand

Labor demand is the quantity of workers that employers are willing and able to hire at a given wage rate, within a certain period.