__________ Is the Process of Controlling Behavior by Manipulating Its

question 153

Short Answer

__________ is the process of controlling behavior by manipulating its consequences.

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Definitions:

Normative Statement

Statements that express opinions, values, or prescriptions for how the world should be, rather than stating facts.

Value Judgments

Evaluations based on individual or societal beliefs about what is good, desirable, or worthwhile, often influenced by personal ethics or morals.

Law of Averages

A layman's term for the statistical principle that over time, outcomes will tend towards the expected average; not a formal economic law. NO.

Microeconomics

The branch of economics that studies individual units of the economy, such as households and firms, and their interactions in markets.