According to Kennerth Arrow, Which of the Following Properties Would

question 88

Multiple Choice

According to Kennerth Arrow, which of the following properties would be present in a perfect voting scheme?
(i) unanimity: if everyone prefers A to B, then A should beat B
(ii) transitivity: if A beats B, and B beats C, then A should beat C
(iii) universality: everyone in society has the right to vote

• A)(i) anly
• B)(i) and (i) any
• C)(ii) and (iii) anly
• D)(i), (ii) and (iii)

---

Definitions:

Financial Statement

A written record detailing the financial activities and condition of a business, including balance sheet, income statement, and cash flow statement.

Base Amount

A reference value or level in financial calculations, often serving as a benchmark for comparing financial performance or changes.

Horizontal Analysis

A technique for evaluating a series of financial statement data over a period of time, to determine the increase (decrease) that has taken place, expressed as either an amount or a percentage.

Vertical Analysis

A method used in financial statement analysis where each line item is listed as a percentage of a base figure, enabling comparison across different periods or companies.