The Arrow Impossibility Theorem States That

question 142

Multiple Choice

The Arrow impossibility theorem states that

• A)no system of voting can be devised that will always consistently represent the underlying preferences of voters.
• B)it is impossible for a majority voting system not to consistently represent the preferences of voters.
• C)it is impossible to separate corporate desires from public bureaucracy.
• D)no system of voting can be devised that will ensure a 100 percent voter turnout.

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Definitions:

Philosophy

The study of fundamental questions about existence, knowledge, values, reason, mind, and language.

Production Era

The period in business history when the focus was primarily on production efficiency and product output, rather than on customer needs or desires.

Assembly Lines

A manufacturing process in which parts are added to a product in a sequential manner using optimally planned workflows in order to create a finished product efficiently.

Relationship Management

Strategies and practices for managing an organization’s interactions with customers, clients, and sales prospects.