Standardization Would Be Most Appropriate for All of the Following

question 13

Multiple Choice

Standardization would be most appropriate for all of the following products EXCEPT

• A)checking accounts.
• B)chemicals.
• C)steel.
• D)commercial aircraft.

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Definitions:

Political Economy

The study of government using the analytic methods of economics.

Economists

Professionals or academics who study the production, distribution, and consumption of goods and services.

Psychology

The scientific study of the human mind, behavior, and processes associated with how people think, feel, and interact with their environment.

Arrow's Impossibility Theorem

A theory in social choice stating that no rank-order voting system can convert the ranked preferences of individuals into a community-wide complete and transitive ranking without violating one of the criteria necessary for a fair vote.