When Greenlawn Inc

question 40

Multiple Choice

When Greenlawn Inc.finds itself losing contracts because Instillite Inc.charges less money,Greenlawn responds by lowering its bids.According to Adam Smith,this reaction demonstrates _____.

• A)the invisible hand of competition
• B)collision
• C)the right to private property
• D)social responsibility

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Definitions:

Skill

The ability to do something well, typically resulting from talent, training, or practice.

Luck

The experience of notably positive, negative, or improbable events influenced by chance.

Generalization

The process by which an organism responds in the same way to different but similar stimuli.

Extinction

In psychology, the gradual diminishing of a conditioned response when the reinforcement is no longer presented; in biology, the permanent loss of species from the earth.