If an Action Creates More Total Benefits for Gainers Than

question 70

Multiple Choice

If an action creates more total benefits for gainers than total harm to losers,

• A)that action would be a Pareto improvement.
• B)taking that action would improve efficiency
• C)the government should step in to take that action
• D)a side payment exists that would make the action a Pareto improvement
• E)any side payment would make the action inefficient

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Definitions:

Glocalization

The practice of conducting business according to both local and global considerations, blending global objectives with local cultures and practices.

Multinational Chain Stores

Retail outlets that operate locations in multiple countries, offering standardized products or services across their locations.

Homogenizing Effects

The process of making things uniform or similar by blending diverse elements.

McDonaldization

The process by which the principles of the fast-food industry, such as efficiency, calculability, predictability, and control, dominate other sectors of society.