When Voting Mechanisms Substitute for the Market Mechanism in Allocating

question 122

Multiple Choice

When voting mechanisms substitute for the market mechanism in allocating resources,we are relying on

• A)Cost-benefit analysis.
• B)Opportunity cost analysis.
• C)Public choice theory.
• D)Ballot box economics.

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Definitions:

Resting Potential

The electrical charge difference across the neuronal membrane when the neuron is not actively firing.

Action Potential

A brief electrical impulse by which information is transmitted along the axon of a neuron.

Wernicke's Aphasia

A language disorder caused by damage to the Wernicke's area of the brain, leading to difficulty in understanding spoken language and producing coherent sentences.

Symptoms

Signs or indications of a disease, disorder, or other physical or mental conditions.