Which Factor Is NOT Considered a Basic Process by Information-Processing

question 33

Multiple Choice

Which factor is NOT considered a basic process by information-processing theories?

• A) working memory
• B) encoding
• C) recalling
• D) associating

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Definitions:

Own-price Elasticity

a measure of how much the quantity demanded of a good or service changes in response to a change in its price.

Number of Substitutes

The quantity of alternative products or services that consumers can choose from in a market.

Absolute Value

A number’s distance from zero on the number line, without considering direction; always a positive value or zero.

Price Elasticity

A measure of how the quantity demanded of a good changes in response to a change in its price.