Consider Using the Decreasing Options Technique (DOT)when

question 13

Multiple Choice

Consider using the Decreasing Options Technique (DOT) when

• A)the group is small,with no more than seven members.
• B)members cannot generate many ideas or solutions.
• C)the group wants to hear from expert and influential members.
• D)the group wants to ensure equal opportunities for input by all members.
• E)the group has plenty of time to discuss multiple or controversial ideas.

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Definitions:

Deadweight Loss

The reduction in economic efficiency that happens when equilibrium is not reached or is unattainable for a specific good or service.

Import Tariff

A tax imposed by a government on goods and services imported into its country to protect domestic industries from foreign competition.

Supply and Demand

Economic model of price determination in a market, showing the relationship between the quantity of goods that producers wish to sell at various prices and the quantity consumers wish to buy.

Specific Tax

A fixed amount taxed per unit of a good or service, as opposed to a percentage of the price.