The Law of Effect Was Developed by Studying the Behavior

question 91

True/False

The law of effect was developed by studying the behavior of dogs in puzzle boxes.

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Definitions:

Comparative Advantage

The expertise of an individual, a corporation, or a sovereign state to create a commodity or a service that bears a lower opportunity cost than that of competing entities.

Relative Costs

The cost of one good or service compared to another, often considered in terms of the opportunity cost of choosing one option over another.

Labor-Productivity

The measure of the amount of goods and services produced by one hour of labor.

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than others, leading to more efficient international trade.