The Process of Learning Through the Observation and Imitation of Others

question 41

Multiple Choice

The process of learning through the observation and imitation of others is called __________

• A) modeling.
• B) free association.
• C) voyeurism.
• D) flooding.

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Definitions:

Constant Returns to Scale

A situation in which increasing the amount of all inputs used in production by a certain factor results in output increasing by the same factor.

Economies of Scale

Cost advantages that enterprises obtain due to their size, output, or scale of operation, with cost per unit of output generally decreasing with increasing scale.

Diseconomies of Scale

A condition when a company or business grows so large that the costs per unit increase, leading to reduced efficiency.

Constant Returns to Scale

A situation in production where an increase in the quantity of inputs leads to a proportional increase in the quantity of output.