Which One of the Following Is a Major Difference Between

question 129

Multiple Choice

Which one of the following is a major difference between market and collective action through government?

• A) Individuals are motivated by personal interests when making market choices, but they will be motivated primarily by the public interest when making collective choices.
• B) Competitive behavior is present when decisions are made in the marketplace, but competition is absent when choices are made collectively.
• C) Scarcity constrains output when decisions are made in the market sector, but scarcity is absent when goods are provided by the government.
• D) In the market sector, there is generally a one-to-one link between payment and consumption; this link is often absent in the government sector.

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Definitions:

Medical School

An educational institution that provides training and education to students who wish to become physicians and other health care professionals.

High-Profile Career

A career that attracts public attention and is often in the public eye due to its significance, the prominence of the role, or the person occupying it.

Vocational Training

Education or instruction designed to teach individuals specific skills for a particular job or career.

Vocational Training

Education or training programs designed to equip individuals with the skills and knowledge needed for specific trades or professions.