A Net Worth Statement Can Be Used to Monitor the Changes

question 21

True/False

A net worth statement can be used to monitor the changes in your wealth over time.

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Definitions:

Premack Principle

A psychological principle suggesting that more probable behaviors will reinforce less probable behaviors.

Law Of Effect

A principle in psychology stating that behaviors followed by pleasant consequences are likely to be repeated, while those followed by unpleasant consequences are less likely to be repeated.

Reinforcement

A stimulus or event that follows a response and increases the likelihood of that response being repeated.

Motivation Level

The intensity and direction of an individual's effort and energy towards achieving a specific goal.