Explanation: Your professor just assigned you to research and write a 12 page paper. Even though you don’t really want to do it, you force yourself to sit at the computer, search for peer-reviewed articles, and write your paper. You are demonstrating <u>self-regulation.</u>
Another example of self-regulation is when you limit, of your own accord, how much you will eat.
Self regulation is the ability of a person to put aside their feelings and their desires, in order to be able to commit to long term goals and achieve them, in this case you dont really want to work and have no desire to start the research paper, but your ability to set aside those feelings and start working is what we call Self Regulation.
Weber's law states that the change in a stimulus that will be just noticeable is a constant ratio of the original stimulus. It has been shown not to hold for extremes of stimulation. The ability to perceive a change in a quantity decreases in proportion to its magnitude.
The factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.
