Which of the Following Is FALSE About Public-Sector Decision Making

question 204

Multiple Choice

Which of the following is FALSE about public-sector decision making?

• A) Decisions are based on majority rule.
• B) The price charged to consumers is often less than its full opportunity cost.
• C) Decisions involve no opportunity cost.
• D) Incentives play a role in decision making.

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Definitions:

Insurance Contract

A legally binding agreement between an insurance company and the policyholder, detailing the terms under which the insurer agrees to compensate the insured for specific losses.

Written Policy

A formal statement or document that outlines specific guidelines or regulations within an organization, setting expectations for behavior or operations.

Insured

A person or entity covered by an insurance policy, receiving financial protection or reimbursement against losses from an insurer.

Comprehensive General Liability

An insurance policy providing extensive protection against claims and lawsuits for bodily injuries, property damage, and advertising injuries.