If Consumers Spend More Money on Coffee Than on Sugar,then

question 94

Multiple Choice

If consumers spend more money on coffee than on sugar,then the demand for a pound of coffee is probably _________________ than is the demand for a pound sugar of because ________________.

• A) less price elastic; coffee requires a larger portion of consumers' incomes.
• B) more price elastic; coffee requires a larger portion of consumers' incomes.
• C) less price elastic; people will take a longer time to adjust to the change in its price.
• D) more price elastic; people will take a longer time to adjust to the change in its price

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Definitions:

Classical Conditioning

A learning process that occurs through associations between an environmental stimulus and a naturally occurring stimulus.

Operant Conditioning

A learning process through which the strength of a behavior is modified by reinforcement or punishment.

Learned Helplessness

A belief that nothing one does matters, derived from an experience of random or unpredictable reward and punishment, and theorized to be a basis of depression.

Stimulus-Response Associations

The concept in psychology that behavior is a reaction to environmental stimuli, where specific stimuli elicit specific responses.