Perfectly Competitive Markets Are Responsive to the Demand of Consumers

question 46

True/False

Perfectly competitive markets are responsive to the demand of consumers.

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Definitions:

Rational-emotive Therapy

A psychotherapeutic approach that focuses on resolving emotional and behavioral problems by confronting irrational beliefs and changing them into rational ones.

Cognitive-behavioral Therapy

A psychological treatment approach that addresses problematic thoughts and behaviors through a goal-oriented process.

Beck

Refers to Aaron T. Beck, an influential figure in the field of psychology known for his work on cognitive therapy and depression.

Ellis

Albert Ellis was an influential psychologist who founded Rational Emotive Behavior Therapy (REBT), a precursor to Cognitive Behavioral Therapy (CBT), focusing on identifying and changing irrational beliefs.