In a Market-Directed System

question 125

Multiple Choice

In a market-directed system:

• A) the emphasis lies in optimizing the rate of production.
• B) the government decides what products should be produced to meet the people's needs.
• C) firms do not rely on customer satisfaction as it is impossible to measure.
• D) customer satisfaction has very little importance.
• E) it is up to each customer to decide how effectively individual firms satisfy his or her needs.

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Definitions:

Catharsis

The process of releasing, and thereby providing relief from, strong or repressed emotions.

Fixed-Interval Schedule

A type of reinforcement schedule in operant conditioning where rewards are provided after a specific, constant period of time has passed.

Variable-Ratio Schedule

A reinforcement schedule in which the number of responses needed for a reward varies, this schedule tends to produce a high and consistent rate of response.

Fixed-Ratio Schedule

A type of reinforcement schedule in behaviorist theories where a response is reinforced only after a specified number of responses.