__________ Refers to the Approach That Seeks to Explain Why

question 41

Short Answer

__________ refers to the approach that seeks to explain why people do and think what they do by considering biological factors such as people's genes and hormones.

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Definitions:

Resources

Inputs used in the production of goods and services, such as labor, capital, land, and entrepreneurship.

Marginal Rate

The rate at which one variable changes relative to a change in another variable, often used in the context of taxes or production costs.

Transformation

The process of changing something from one form or state to another, often seen in context with business, personal development, or technology.

Unemployment

The situation when people who are willing to work at prevailing wage rates cannot find employment.