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For What Type of Questions Must Decisions Be Made About

question 3

Multiple Choice

For what type of questions must decisions be made about how many entries to include on a scale and whether there will be a neutral option?

Definitions:

Utility Possibilities Frontier

The utility possibilities frontier is a graphical representation depicting the different distributions of utility maximization between two agents given a fixed set of resources.

Income Distribution

Income distribution refers to the way in which total income is shared among the members of a society.

Pareto Optimal

A distribution condition in which making any person's situation better is impossible without causing harm to someone else.

Private Goods Consumption

Involves the use of goods that are excludable and rivalrous, meaning their consumption by one individual prevents another from consuming the same good.