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Discuss the Characteristics of a Perfect Competitive Industry and Which

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Discuss the characteristics of a perfect competitive industry and which real-life industries come closest to this type of market structure.


Definitions:

Extrinsic Rewards

External incentives given to employees or individuals, such as money, trophies, or recognition, to motivate behavior or performance.

Behavior Therapy

A form of mental health treatment aimed at altering unwanted behaviors by using methods of conditioning.

Behavior Control

The process of regulating or directing actions and responses to achieve desired outcomes.

Transference

In psychoanalysis, the process by which patients project feelings about significant people in their lives onto the therapist.

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