According to Public Choice Theorists,people in the Market Sector and People

question 5

Multiple Choice

According to public choice theorists,people in the market sector and people in the public sector behave differently because

• A) people in the two sectors have different motives.
• B) the two sectors have different institutional arrangements.
• C) government employees do not act in their own self-interest.
• D) there are economies of scale in the market sector.

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Definitions:

Presentment

The formal presentation of a document, such as a bill of exchange, for acceptance or payment.

Demand

The consumers' willingness and ability to purchase goods or services at a given price.

Instrument

A formal document, such as a contract, will, or security, that legally records a right, obligation, or transaction.

Good Faith

The honest intention to act without taking an unfair advantage over another party, based on the belief that others will similarly act honestly.