Which of the Following Statements About Markets Does NOT Describe

question 127

Multiple Choice

Which of the following statements about markets does NOT describe a function of markets?  

• A) Markets coordinate the independent decisions of buyers and sellers. 
• B) Markets reduce the transaction costs of exchange. 
• C) Markets can be specialized in a particular area. 
• D) All markets provide the same amounts of information.

---

Definitions:

False Consensus Effect

The cognitive bias whereby individuals overestimate the extent to which their beliefs, values, attitudes, or opinions are shared by others.

Oedipus Complex

A psychoanalytic theory describing a child's feelings of desire for the opposite-sex parent and jealousy towards the same-sex parent.

Projection

A defense mechanism where an individual attributes their own unacceptable thoughts or feelings to others.

Maslow

Refers to Abraham Maslow, an American psychologist known for creating Maslow's hierarchy of needs, a theory in psychology proposing that certain human needs must be fulfilled before others.