- Short answer: 1 to 3 sentences.
What is scarcity?
Scarcity refers to the limited availability of a commodity in the market as a result of increased market demand. Through an unexpected increase in demand as a result of one or more factors include a decline in prices or expected shortages, the supply may not be able to meet the demand, thus leading to scarcity, which is one of the undesirable aspects of the economy.
- Short answer: 1 to 3 sentences.
Why is economics so useful for, or amenable to, policymaking?
Economics is so useful for or amenable to policymaking because it addresses a set of uncertain and complex relationships. Policy-making will be said to be effective if it addresses the uncertainty along with complex relationships that are highlighted in economics. This claim is based on the fact that we are now living in a world of uncertainty.
- Short answer: 1 to 3 sentences.
What is the key differentiation of psychology from the other social sciences?
Psychology is distinct from the other social sciences as it focuses on human behavior and the mental process, while other social sciences deal with the nature of individuals along with the structure of human society. The behavior along with the mental processes are important in constructing the structure of human society, thus making psychology to be superior and important to other social sciences. Everything that happens in society, whether good or bad is a result of the mental process, which is the focus or the main specialty of psychology.
- Short answer: 1 to 3 sentences.
What is conspicuous consumption?
This refers to spending on or consuming luxuries at a lavish scale to enhance individual prestige, through the public display of economic power. Conspicuous consumption brings with it a sense and feeling of class in society. Superior class for that matter as people from this social stratification are known to be the biggest spenders.
- Longer answer: 1 to 2 fully fleshed our paragraphs
By incorporating a physiological approach, psychology separates itself from other forms of social science (especially sociology, cultural anthropology, political science, and economics). Why is the physiological aspect so important and how does it fit into psychology overall?
Psychology is distinct from the other social sciences such as sociology, political science, economics, and cultural anthropology as it follows an empirical method. The reason why psychology is so important is that it focuses on both groups along with individual dynamics. The manner in which people behave, as described by psychology, affects both social, political science, economic, and cultural anthropology aspect. The implication of this is that psychology cross-cuts all the other disciplines, and this is how it fits psychology overall.
- Longer answer: 1 to 2 fully fleshed our paragraphs
Much of modern economic thought believes people to be, generally speaking, rational and self-interested. What do these two concepts mean and why are they core to our modern understandings?
The rationality among people is based on independence in their thinking while the concept of self-interest is whereby people are usually biased. The concept of rationality is important to our modern thinking as it helps in coming up with original thinking. This concept is commonly applied in the modern understanding of politics especially in democratic states. The self-interest concept, on the other hand, is important in modern understanding as it helps in highlighting the needs of people. This concept is also commonly used in the political arena where the elected tend to focus on meeting their interests rather than the interests of others.
- Longer answer: 1 to 2 fully fleshed our paragraphs
Alongside economics, psychology is a social science discipline that has broad, public appeal and general support. Interestingly, Eller (2016) notes that it “has the deepest ties with—sometimes overlapping with—natural science, from biology to chemistry (e.g. psychopharmacology) and physics” (121). This highlights, to an interesting level, the ways social science is exceptionally broad.
What are two ways that the work of psychology is tied/overlapping with natural science disciplines to pursue an understanding of the social world?
One of the ways in which psychology overlaps with the natural science disciplines to pursue an understanding of the social world is that it bases its findings on experiments that are not tampered with. Apart from that, psychology, just as is the case for natural science, focuses on nature, with one of them being human behavior, which comes naturally for everyone unless such a person is subjected to some conditions.
- Longer answer: 1 to 2 fully fleshed our paragraphs
Why does Watters believe that mental illness has been Americanized?
Walter believes that mental illness has been Americanized because there has been an export of the understanding of this condition from America to other regions. Besides, there has been the expression of mental illness the American way by other cultures to include the manner in which the condition should be treated. Given that America is a superpower nation across the globe, people tend to imitate all that it does, as this is assumed to be the most ideal given its status, to include the manner in which mental illness is described, explained, understood, and dealt with. It is believed that mental illness cannot be understood without the understanding of the ideas, predispositions, along with habits, all of which are westernized or Americanized.