Suppose the Voters in a Small Country Are Choosing Between

question 191

Multiple Choice

Suppose the voters in a small country are choosing between two options, A and B. After the voting is complete it is discovered that option A received 100% of the votes with option B receiving no votes. After the vote, however, the country's leader decides that option B is better for the people and implements B rather than A. The voting system in this country fails which of Arrow's properties of a desirable voting system?

• A)unanimity
• B)transitivity
• C)independence of irrelevant alternatives
• D)No dictators

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Definitions:

Resource Market

Markets where resources (or factors of production) like labor, capital, and raw materials are bought and sold.

Consumption Expenditures

The total amount spent by consumers on goods and services within a specified period.

Households

Individuals or groups living together who make joint decisions on consumption and resource allocation, forming the basic consuming unit in an economy.

Product Market

The marketplace in which final goods or services are offered to consumers, businesses, and the public sector.