All the Following Are Assumptions of the Classical Model EXCEPT

question 225

Multiple Choice

All the following are assumptions of the classical model EXCEPT

• A) pure competition exists.
• B) buyers and sellers react to nominal money prices rather than to relative prices.
• C) people are motivated by self-interest.
• D) wages and prices are flexible.

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Definitions:

Allport

Gordon Allport was a pioneering psychologist who focused on the study of personality and individual traits, introducing the concept of personal dispositions.

Theorists

Theorists are individuals who originate, develop, or utilizes theories across various disciplines, providing a systematic set of ideas to explain certain phenomena.

Cardinal Traits

Dominant personality traits identified by psychologist Gordon Allport, which define an individual’s overall behavior and are central to their personality.

Central Traits

Essential attributes that constitute a major part of a person's personality, around which their personality is organized.