If Dairy Farmers Use Automatic Milking Machines Instead of Milking

question 53

Multiple Choice

If dairy farmers use automatic milking machines instead of milking by hand, which economic question does their decision answer?

• A)What to produce?
• B)How to produce?
• C)For whom to produce?
• D)Who has a comparative advantage in milking?
• E)What is the price of milk?

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Definitions:

Power Concentration

The scenario in which a disproportionate amount of power or authority is held by a small number of individuals or organizations.

Elite Theory

Holds that small groups occupying the command posts of America’s most influential institutions make the important decisions that profoundly affect all members of society. Moreover, they do so without much regard for elections or public opinion.

High-Status Groups

High-status groups refer to social groups that are considered superior within a society due to certain attributes like wealth, power, or prestige.

Democratic Politics

A political system in which power is practiced directly by the people or through elected representatives, characterized by free and fair elections, rule of law, and protection of rights.