When Collective Decision Making Is Utilized to Resolve Economic Questions

question 200

Multiple Choice

When collective decision making is utilized to resolve economic questions regarding the allocation of resources,

• A) the role of markets will be replaced by political decision making.
• B) centralized decision making in all areas is inevitable.
• C) the preferences of individuals are of no importance.
• D) economic efficiency will be assured.

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Definitions:

Nutritional Resources

Sources of nourishment that provide organisms with the necessary energy and materials for growth, development, and maintenance.

Caterpillars

The larval stage of butterflies and moths, during which they often feed voraciously before undergoing metamorphosis into adults.

Phylogenetic Species Concept

The phylogenetic species concept is the idea that species are the smallest possible groups whose members are descended from a common ancestor and who all possess defining or derived characteristics that distinguish them from other such groups.

Biological Species Concept

Holds that species are groups of actually (or potentially) interbreeding natural populations that are reproductively isolated from other such groups.