The Term Prisoners' Dilemma

question 26

Multiple Choice

The term prisoners' dilemma

• A) refers only to situations where prisoners' must confess on one another.
• B) is in agreement with Adam Smith's invisible hand idea.
• C) represents situations where people do not act in their own self interest.
• D) can be applied to show why cartels are difficult to maintain.

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Definitions:

State and Federal Income Taxes

Taxes imposed on individuals and businesses by state and the federal government based on the income earned within the tax year.

Necessities

Essential goods or services required for basic living and sustaining human life, often including food, water, shelter, and clothing.

Technology

Inventions or innovations from applied science or engineering research.

Applied Science

The discipline of applying existing scientific knowledge to develop more practical applications, such as technology or inventions.