In a free market economy, the price and distribution of goods and services is governed by the law of supply and demand. Producers or firms produce those services and goods that consumers are willing and able to pay for in the market.
K. Warner Shaie developed the first longitudinal study of adult intelligence. A gerontorologist and psychologist, Shaie was known for establishing the Seattle Longitudinal study on year on 1956. The "life span" approach of research receuved numerous awards for studying on cognition throughout the age eliminating 'cohort effects'.
Checks and Balances. The description above shows the limitations each of the three branches of government that are put on it by the other branches, therefore balancing the power.
A theory is an interrelated, coherent set of ideas that helps to explain phenomena and make predictions.
<h3>What is theory?</h3>
Theory consist of various ideas that are related.
It is often used to explain a process, phenomena or an idea situation.
Theories are postulated by scientists for various observations and reasoning.
They are principles that explain a group of facts and it is used to explain things or happenings.
Therefore, A theory is an interrelated, coherent set of ideas that helps to explain phenomena and make predictions.
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