Figure 2-15 -Refer to Figure 2-15. One Segment of the Circular Flow

question 19

Multiple Choice

Figure 2-15
-Refer to Figure 2-15. One segment of the circular flow diagram in the figure shows the flow of labor services from market K to economic agents J. What is market K and who are economic agents J?

• A) K = factor markets; J = households
• B) K = product markets; J = households
• C) K = factor markets; J = firms
• D) K = product markets; J = firms

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Definitions:

Reinforcer

Any stimulus that strengthens or increases the probability of a specific response or behavior by being presented immediately after that response.

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, whereby an association is made between a behavior and a consequence for that behavior.

Personal Actions

Actions or behaviors undertaken by an individual, often in the context of personal decision-making or lifestyle choices.

Classical Conditioning

The procedure of learning by associating a natural stimulus with one from the environment.