Economists Usually Assume That Customers Have a Fairly Definite Set

question 12

True/False

Economists usually assume that customers have a fairly definite set of preferences.

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Definitions:

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, emphasizing the influence of consequences on behavior.

Reinforcement

In behavioral psychology, a consequence that strengthens an organism's future behavior whenever that behavior is preceded by a specific antecedent stimulus.

Punishment

A process that decreases the likelihood of a behavior being repeated by applying an adverse stimulus or removing a rewarding stimulus following the behavior.

Responsible Behavior

Actions that are accountable and ethical, demonstrating a readiness to answer or be responsible for one's conduct.