the economy

Question 1

how does psychology impact the economy?

Answer 1

psychological theories can be applied by governments and companies to improve how the economy functions including:
- healthy and well-educated population more productive in producing high quality goods
- consumption of goods depends on willingness to buy goods - psychological manipulation can help increase desire and demand
- can increase likelihood someone will pay taxes

Question 2

how does Bowlby’s maternal deprivation theory influence the economy?

Answer 2

leads to…
- improved hospital policies around families visiting young children
- physical contact between mothers and children
adoption agencies prioritising foster care for younger children

improves economy as these adults are likely to become more productive adults, better adjusted to the demands of adult life and less likely to need mental health support

Question 3

how does obedience and conformity research influence the economy?

Answer 3

• encourages people to pay taxes on time

improves economy by increasing the amount of money available to spend on services by government

Question 4

how does conditioning influence the economy?

Answer 4

• social media and computer game companies can manipulate users to engage with products by providing virtual rewards like ‘likes’
• also used in gambling and slot machines

improves economy as companies can display more adverts and make more money

Question 5

how does OCD research influence the economy?

Answer 5

development of cheap and effective drug treatments allow people to reduce symptoms and return to everyday life

improves economy by reducing cost to NHS, improving productivity at work and increases no of workers

Question 6

how does EWT research influence the economy?

Answer 6

reduces cost of wrongly convicting people
less overcrowding in prisons