In the Circular Flow of Economic Life, Businesses Set the Rules

question 115

True/False

In the circular flow of economic life, businesses set the rules of the game.

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Definitions:

Positive Reinforcement

A method of encouraging desired behavior by rewarding it, thus increasing the likelihood of the behavior being repeated.

OB Mod

Organizational Behavior Modification, a theory that focuses on influencing individual or group behaviors within an organization through a system of rewards and punishments.

Punishment

The imposition of a penalty as a response to an undesirable behavior or action, aimed at reducing or eliminating that behavior.

Operant Conditioning

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