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Kisachek [45]
3 years ago
5

What are three functions of price in market economy

Social Studies
2 answers:
Luba_88 [7]3 years ago
8 0

Answer:

Signalling function. Prices perform a signalling function – i.e. they adjust to demonstrate where resources are required. ...

Incentive function. Through choices consumers send information to producers about their changing nature of needs and wants. ...

Rationing function.

Explanation:

damaskus [11]3 years ago
3 0
In fact, this function of prices may be analyzed into three separate functions. First, prices determine what goods are to be produced and in what quantities; second, they determine how the goods are to be produced; and third, they determine who will get the goods.
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Kim enjoys skiing and finds that she goes on the slopes as often as she can. Kim’s behavior may be explained by thorndike’s law
Lorico [155]

Thorndike's law of effect states that rewarding or satisfying behavior is more likely to be repeated.

<h3>What is Thorndike's law?</h3>
  • According to Edward Thorndike's "Law of effect," any behavior that is followed by pleasant consequences is likely to be repeated, whereas any behavior that is followed by unpleasant consequences is likely to be stopped.
  • If you work hard and then get a promotion and a pay raise, you are more likely to put in more effort at work in the future. If you run a red light and then get a traffic ticket, you are less likely to run another red light in the future.
  • Thorndike developed the theory of connectionism through his research on animal behavior and the learning process of cats.

The complete question is:

Kim enjoys skiing and finds that she goes on the slopes as often as she can. Kim's behavior may be explained by Thorndike's Law of Effect, which states that:

a. the whole of human behavior is greater than the sum of its parts.

b. behavior that is rewarding or satisfying is likely to be repeated.

c. the causes of behavior generally cannot be studied systematically.

d. recreational preferences are typically shaped through classical conditioning.

To learn more about Thorndike's law, refer to:

brainly.com/question/15108002

#SPJ4

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