The Property of Transitivity Refers to Which of the Following

question 35

Multiple Choice

The property of transitivity refers to which of the following?

• A) If voters for one choice feel more strongly than do voters who select another choice,then the aggregation mechanism must be such that the choices are weighted accordingly.
• B) If one choice is preferred by all voters,then the aggregation mechanism must be such that this choice is made by society.
• C) If choice A is preferred to choice B and choice B is preferred to choice C,then A must be preferred to C.
• D) Choices must satisfy the condition that if one choice is preferred to another,then the introduction of a third choice will not change that ranking.

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price level at a given moment.

Free Market

An economic system where prices are determined by unrestricted competition between privately owned businesses.

Housing

The physical dwellings or accommodations in which people reside, including various forms such as apartments, houses, and other residential structures.

Landlord Behavior

Landlord behavior pertains to the actions and decisions made by a property owner renting out property to tenants.