As Methods of Economic Organization, the Market and the Public

question 106

Multiple Choice

As methods of economic organization, the market and the public sector are similar in which of the following ways?

• A) Income and power are distributed equally in both sectors.
• B) In both sectors, economic activity is undertaken only when it satisfies the criterion for economic efficiency.
• C) In both sectors, economic exchange is completely voluntary.
• D) Someone must cover the cost associated with the provision of scarce goods in both sectors.

---

Definitions:

Illegal

Contrary to or forbidden by law, encompassing actions or activities not authorized by legal statutes.

Respect Diversity

Recognizing and valuing the differences in cultures, perspectives, and backgrounds among individuals or groups.

Feelings and Beliefs

The emotions and convictions that influence an individual's perceptions, attitudes, and actions towards themselves, others, and the world around them.

Admit Prejudices

The act of openly acknowledging one's own biased opinions or prejudgments toward others.