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Which of the following equations is correct?
Standard Of Living
A measure of the wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area.
Impossibility Theorem
A principle, often associated with Arrow's impossibility theorem, indicating that no voting system can convert the ranked preferences of individuals into a community-wide ranking while also meeting a set of reasonable criteria.
Individual Preferences
The specific likes, dislikes, desires, and priorities that guide an individual's choices or decisions.
Voting Scheme
A system or method used to facilitate and process votes, typically within the context of elections, decision-making processes, or preference assessments.
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