Which One of the Following Is a Major Difference Between

question 129

Multiple Choice

Which one of the following is a major difference between market and collective action through government?

• A) Individuals are motivated by personal interests when making market choices, but they will be motivated primarily by the public interest when making collective choices.
• B) Competitive behavior is present when decisions are made in the marketplace, but competition is absent when choices are made collectively.
• C) Scarcity constrains output when decisions are made in the market sector, but scarcity is absent when goods are provided by the government.
• D) In the market sector, there is generally a one-to-one link between payment and consumption; this link is often absent in the government sector.

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Definitions:

Random Sample

A random sample from an infinite population is a sample selected such that the following conditions are satisfied: (1) Each element selected comes from the same population; (2) each element is selected independently.

Level Of Significance

The probability of rejecting the null hypothesis in a statistical test when it is actually true, used as a threshold for statistical significance.

Population Proportion

The measure of a particular characteristic's frequency in a defined population.

Research Hypothesis

A statement proposing a potential explanation for a phenomenon or a predicted relationship between variables, typically tested through experimentation or observation.