One Important Difference Between the Political Process and the Market

question 97

Multiple Choice

One important difference between the political process and the market process is that

• A)the political process results in collective actions in which not everyone is required to participate, while in the market process individuals are obliged to participate.
• B)the political process results in collective actions in which everyone is obliged to participate, while in the market process individuals are free to participate or not.
• C)the political process results in collective actions that maximize economic surplus, while the market process may lead to efficiency losses.
• D)the political process results in collective actions in which everyone is made better off, while the market process results in actions that favor some groups only.

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Definitions:

Undergraduates

are students pursuing their first level of university degree, typically completing a program of study that leads to a bachelor's degree.

MBA Students

Individuals enrolled in a Master of Business Administration program, aiming to gain advanced management and business skills.

Top Managers

Individuals at the highest level of management who have the day-to-day responsibilities of running a company or corporation, often including the president, vice-presidents, CEOs, and other senior executives.

Ethical Business Decisions

Choices made by businesses based on moral principles and values, aiming to uphold integrity while addressing stakeholders' interests.