What Does It Mean When Economists Say That People Act

question 69

Multiple Choice

What does it mean when economists say that people act as rational decision makers?  

• A) that people gather all relevant information before making any purchases 
• B) that once a pattern of behaviour has been established, people tend to become set in their ways 
• C) that people respond in predictable ways to changes in costs and benefits 
• D) that people rarely make errors when they are permitted to make transactions

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Definitions:

Behavior Therapists

Mental health professionals who utilize principles of behaviorism to treat psychological disorders and behavioral issues through conditioning and learned behaviors.

Observable Behaviors

Actions or reactions of an individual that can be directly seen and measured.

Baseline Data

Initial information or measurements used as a reference point before experimental or therapeutic interventions.

Behavior Therapy

A therapeutic approach focusing on changing undesirable behaviors through conditioning and other learning techniques.