Which of the Following Properly Compares/contrasts Government and Markets

question 161

Multiple Choice

Which of the following properly compares/contrasts government and markets?

• A)Individuals in government generally know more than their counterparts outside of government.
• B)Individuals in government cannot help but act in the public interest.It is in their job description.
• C)When producers in markets act in their own self-interest, society benefits.This is not necessarily the case with government.
• D)Individuals in government act in the public interest, whereas individuals in markets act in their own self-interest.
• E)Individuals in government are taught to cooperate, whereas those outside government are taught to compete.

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Definitions:

Disaffirm

The legal act of renouncing or repudiating a contract or agreement, particularly in cases where one party lacks the capacity to enter into the contract.

Contract of Purchase

A legal document outlining terms and conditions under which goods or services are sold by a seller to a buyer.

Ratification

The formal approval of an agreement or treaty by signing or giving formal consent, making it officially valid.

Minor

An individual under the age of legal competence, typically under 18 years, with certain restrictions on their legal rights and responsibilities.