One Problem That Might Occur as a Result of Economic

question 17

Multiple Choice

One problem that might occur as a result of economic regulation is

• A) the firm may be earning more than a normal rate of return on investment.
• B) the quality of service might be lowered.
• C) that social regulation may follow.
• D) the demand for the good may be greater than the supply.

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Definitions:

Object Permanence

The realization that objects still exist even when they are not visible, audible, or detectable by any other senses.

Accommodation

In cognitive psychology, the process by which existing mental schemas are modified or new schemas are created to absorb new information.

Theory of Mind

The ability to attribute mental states—beliefs, intents, desires, pretending, knowledge—to oneself and others and to understand that others have beliefs, desires, and intentions that are different from one's own.

Object Permanence

The understanding that objects continue to exist even when they cannot be observed (seen, heard, touched, smelled, or sensed in any way).