Despite Many Differences, the Market and Public Sectors Are Similar

question 168

Multiple Choice

Despite many differences, the market and public sectors are similar in which one of the following respects?

• A) In both sectors, income (or power) is distributed on the basis of the same criterion.
• B) Consumers in the market sector and voters in the public sector are equally well informed.
• C) Voluntary exchange, rather than compulsion, is characteristic of both sectors.
• D) It will be costly to use scarce goods, whether through the private or the public sector.

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Definitions:

Ego-oriented Competition

A form of competition where the emphasis is on individual performance and outperforming others, with self-esteem often tied to the outcome.

Task-oriented Competition

Competitive situations where the focus is on the achievement of a specific goal or the completion of a task, rather than winning against others.

Nonhostile Social Comparison

The act of comparing oneself to others in a way that is not antagonistic or envious, often for self-evaluation.

Basic Social Goal

Encompasses widely shared objectives within a society that aim to improve social welfare, including aspects like reducing poverty, enhancing education, and promoting equality.