The Opportunity Cost of Something Is

question 113

Multiple Choice

The opportunity cost of something is:

• A)larger during periods of rising prices.
• B)equal to the monetary cost.
• C)smaller during periods of falling prices.
• D)what is given up to acquire it.

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Definitions:

Proactive Interference

The phenomenon where old memories inhibit the capacity to remember new information.

Retrieval Cues

Stimuli or prompts that aid the recall of information stored in memory.

Serial Position Effects

A memory-related phenomenon where people tend to recall the first and last items in a series better than the middle items.

Sensory Memories

The shortest-term element of memory, allowing the retention of impressions of sensory information after the original stimuli have ended.