One of the Limitations of Economics Is That the Principles

question 71

True/False

One of the limitations of economics is that the principles only apply to the American economic system and not foreign economies.

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Definitions:

Yerkes-Dodson Law

A theory suggesting that there is an optimal level of arousal for performance on any task; too little or too much arousal can impede performance.

Self-determination Theory

A psychological theory focused on motivation, concerning people's basic psychological needs for competence, relatedness, and autonomy.

Cannon's Theory

Also known as Cannon's fight-or-flight theory, it describes the body's automatic response to threatening or stressful situations.

Pleasure Principle

The driving force of the id that seeks immediate gratification of all desires, wants, and needs.