Which One of the Following Is a Major Difference Between

question 129

Multiple Choice

Which one of the following is a major difference between market and collective action through government?

• A) Individuals are motivated by personal interests when making market choices, but they will be motivated primarily by the public interest when making collective choices.
• B) Competitive behavior is present when decisions are made in the marketplace, but competition is absent when choices are made collectively.
• C) Scarcity constrains output when decisions are made in the market sector, but scarcity is absent when goods are provided by the government.
• D) In the market sector, there is generally a one-to-one link between payment and consumption; this link is often absent in the government sector.

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Definitions:

Ferris State University

A public university located in Big Rapids, Michigan, known for its comprehensive educational programs.

Chi-Square Distributions

A statistical distribution that is used to assess how likely it is that an observed distribution is due to chance, especially useful for categorical data.

Skewed to the Right

A distribution where the tail on the right side of the histogram is longer or fatter than the left side.

Chi-Square Random Variable

Represents a distribution that arises from squaring a standard normal distribution, commonly used in hypothesis testing.