-The "Public Choice" School of Economists Argue That

question 1

Multiple Choice

-The "Public Choice" school of economists argue that:

• A)the invisible hand of the market is inefficient in allocating resources to their best uses.
• B)the government often does not take correct economic decisions as it is run by self-interested politicians.
• C)the government takes correct decisions as it is run by conscious and educated individuals.
• D)the market fails to maximize social efficiency.
• E)the government is a non-profit making organization which works to maximize social efficiency.

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Definitions:

Group Decision Making

The process through which members of a group or team collectively make a choice or solve a problem, often aiming for a consensus or majority agreement.

Disadvantages

The negative or less favorable aspects of a situation, decision, or condition.

Advantages

The beneficial aspects or favorable positions that come from a particular situation, decision, or condition.

Hard Data

Quantifiable, objective facts or statistics that are usually measurable and verifiable.