The Assumption of Completeness Means That

question 53

Multiple Choice

The assumption of completeness means that

• A) the consumer can rank all possible consumption bundles.
• B) more of a good is always better.
• C) the consumers can rank all affordable consumption bundles.
• D) all preferences conditions are met.

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Definitions:

High Collectivism

A social pattern in which individuals prioritize the goals and well-being of the group over personal goals or desires.

Power Distance

A cultural dimension that reflects the degree to which less powerful members of organizations and institutions accept and expect that power is distributed unequally.

Consensus-Oriented

A decision-making process that seeks widespread agreement and support among all stakeholders or group members.

Status

The relative social, professional, or other standing of someone or something, often influencing respect, influence, and access to resources or opportunities.