Microeconomic theory studies the interactions between individual buyers and sellers in decision-making processes, with a focus on maximizing utility or profit. It assumes a market economy and opportunity cost is a core concept. The theory can be applied to running a business and is used to study more realistic systems beyond simplified models. Microeconomic theory […]
Social judgment theory studies how people form attitudes and make judgments when presented with persuasive messages. It examines the degree of acceptance, rejection, or noncommitment to specific stimuli and the latitude of existing viewpoints. It was created in the 1960s to predict how likely persuasive communications would alter attitudes. Attitudes are based on a complex […]
Consumer theory explains how consumers make purchasing decisions based on their income and preferences. Consumers aim to maximize the benefit they receive for the money they spend, but are limited by their budget constraint. The theory also considers the substitution and income effects on consumer behavior. Consumer theory is a theory in economics that tries […]
Conspiracy theories attempt to explain significant events, often involving secret organizations or powerful people. They are linked to paranoia and can build up over time, involving more people and opinions. Theories about events like JFK’s assassination are still debated today. Conspiracy theories are used as an attempt to make sense of an event that has […]
Negotiation theory studies decision-making processes in groups, with applications in business. It assumes rationality, willingness to reach an agreement, and self-interest. Game theory views negotiation as a strategic competition, while integrative analysis and joint gains focus on minimizing losses and maximizing gains for all parties. Bad faith can hinder successful negotiations. Negotiation theory is a […]
Collision theory explains why chemical reactions occur and their rate. Molecules must collide with enough energy and in the correct orientation for a reaction to occur. Activation energy is required, and physical factors like concentration and temperature can increase successful collisions. In chemistry, collision theory provides an explanation of why certain chemical reactions occur and […]
Drive theory explains that humans have biological and psychological needs, and behavior is driven by the desire to satisfy those needs. Clark Hull believed that learning is dependent on reducing these drives, and successful actions to satisfy needs are repeated through behavioral conditioning. Drive theory, also known as drive reduction theory, is a psychological theory […]
The theory of absolute advantage suggests that a nation should produce products that exploit its readily available resources, resulting in increased efficiency and cost savings. The nation with the highest productivity has the advantage, inspiring trade. The theory was created by Adam Smith in 1776 and is often considered with the theory of comparative advantage. […]
The theory of demand is part of the supply and demand curve, which is used as an argument for capitalism. The optimal level of demand occurs when a product is priced so that only those who need it will buy it. Supply affects demand, and the sweet spot is where the supply and demand curves […]
Price theory explains why consumers buy goods or services from a particular company, based on the agreement of price and value. Supply and demand graphs help companies understand at what price they will sell the most goods or services. External factors such as competition, consumer demand, and market size also influence price theory. Price theory […]
Interdisciplinary theory allows for learning and discovery of new thoughts, concepts, and knowledge. Individuals can prepare their own degree programs to develop an interdisciplinary theory involving more than one concept or area of knowledge. Globalization and technology are driving factors in this type of study, and teaching and research are areas where individuals can make […]
Circuit theory uses laws and techniques to describe energy flow in electrical circuits. Components include batteries, wires, resistors, capacitors, and switches. Ohm’s Law and Kirchhoff’s laws are important. Active components supply energy, while passive components use it. Circuit theory is a set of techniques used to describe the flow of energy around an electrical circuit. […]
Electromagnetism is the fundamental force that describes the relationship between electricity and magnetism. Maxwell’s equations quantify the basic principles of electromagnetic theory, which revolutionized the way physicists understood light. The success of electromagnetic theory led to the collapse of Newtonian physics and altered the way physicists understand electricity, magnetism, light, space, time, and gravity. Einstein’s […]
Adaptive theory explains how systems adapt based on past experiences. It is used in biology to explain natural selection, in neurology and programming to study how individuals react to stimuli, and in economics to understand how past experiences affect future decisions. In medicine, Roy’s adaptive theory suggests that nursing helps patients adjust to their illness […]
Particle theory proposes that matter is made up of tiny particles in constant motion. John Dalton proposed the atom as a fundamental particle, but it was later discovered that there are even smaller particles. The standard model deals with three of the four known interactions and predicts the Higgs boson. Particle theory helps classify the […]
Finance theory involves speculation and mathematical measurements to determine investment strategies, fundraising plans, and manage financial risk. It includes measuring the value of money over time, creating viable investment strategies, and running a business. Luck and chance play a role, and understanding financial theories requires a background in mathematics and the financial market. Finance theory […]
The social information processing theory explains how people develop relationships online through strategies such as word choice and self-disclosure. Research supports the theory that online relationships can be just as emotionally significant as offline ones. However, critics argue that anonymity can lead to depersonalization and that attitude towards the medium affects relationship formation. Sociologists agree […]
Communication accommodation theory explains how people use language and nonverbal cues to enhance social similarity or difference. Matching, or changing one’s speaking style to match the listener’s, is used to build rapport. This theory can be used to observe social identities and team morale, but it lacks detail and specificity. Communication accommodation theory is a […]
Domination theory explains institutionalized inequality in societies, where discrimination arises naturally due to human tendencies and belief systems. It classifies three types of social domination: adult superiority, gender hierarchy, and arbitrary hierarchies. People align themselves with viewpoints that favor their self-perception as insiders or outsiders. Domination theory, also called social dominance theory, is a way […]
The opponent process theory explains how opposing experiences are processed in the body, making it difficult to feel both at the same time. It is applied to color vision and emotions, and may play a role in addiction. The opponent process theory is an explanation of how experiences of certain sensory and neurological phenomena are […]
