If There Are Three or More Candidates, There Is No

question 1

True/False

If there are three or more candidates, there is no voting system (other than a dictatorship) for which both the Condorcet winner criterion and the independence of irrelevant alternatives hold.

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Definitions:

Autarky

A situation where an economy is self-sufficient and does not engage in international trade.

Trade

The exchange of goods, services, or both between two or more parties.

Producer Surplus

The difference between what producers are willing to sell a good for and the market price they actually receive, representing their net benefit.

Free Trade

International trade left to operate without tariffs, quotas, or other restrictions, allowing for the unrestricted exchange of goods and services between countries.