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Details

HACE exam 1 chapter 3
exam 1
7
Economics
Undergraduate 2
02/09/2011

Additional Economics Flashcards

 


 

Cards

Term
ABC model
Definition

Affect, Behavior Change, and Cognition.

 

ex: my attitude changed towards children when i became a parent myself.

Term
what is a theory?
Definition

-an organized system of ideas or beliefs that can be measured.

-begins with curiousity and exploration

Term
can we control consumer behavior?
Definition
yes. people under 21 cant buy alcohol, and those under 18 cant smoke
Term
prospect theory
Definition

a person'e degree of pleasrue is more dependent on the change in his or her condition than the absolute level

 

ex: i felt little pleasure in the money i made from selling my too small jeans. i felt the loss of my youth/figure more.

Term
Theory of Mental Accounting
Definition
-people are willing to pay $4 dollars for a cup of starbucks but complain about $3 per gallon of gas.
Term
Human Development Index
Definition
Mesaures the progress of nations through quantfying well-being
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