Highway Improvements the Model of Self-Regulation and Driving Predicts That

question 49

Multiple Choice

Highway improvements The model of self-regulation and driving predicts that an older adult will continue to drive depends on the psychological factors of:

• A)availability of public transportation.
• B)ability to get rides with others.
• C)the expense of gas and vehicle upkeep.
• D)self-confidence and need for independence.

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Definitions:

Price Elasticity

The influence exerted by price variations on the demand level of a specific good quantified.

Price-Discriminate

The practice of charging different prices to different consumers for the same good or service, based on factors like location, buying habits, or willingness to pay.

Higher Prices

Typically the result of increased demand or reduced supply, leading to a rise in the cost of goods and services.

Deadweight Loss

An economic inefficiency that occurs when the equilibrium for a good or service is not achieved or is not allocatively efficient.