The Condorcet Voting Paradox Applies to Situations in Which Voters

question 279

Multiple Choice

The Condorcet voting paradox applies to situations in which voters

• A)decide between exactly two possible outcomes.
• B)decide among more than two possible outcomes.
• C)as a group have transitive preferences.
• D)choose the inferior candidate even though the majority preferred the better candidate.

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Definitions:

Self-Sufficient

The ability of an individual, household, or nation to meet all their needs without external assistance or trade.

Standard of Living

A measure of the wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area.

Importing

The process of importing products or services from other countries for the purpose of selling them domestically.

High-Opportunity Cost

A situation where choosing one option results in the loss of the potential gain from other alternatives.