Arrow's Impossibility Theorem Illustrates the Difficulties in Creating the Perfect

question 88

True/False

Arrow's impossibility theorem illustrates the difficulties in creating the perfect voting system.

---

Definitions:

Capital Employed

Capital employed refers to the total amount of capital used for the acquisition of profits by a firm or project. It is typically the value of all assets employed in a business.

ROCE

Return on Capital Employed; a financial ratio that measures a company's profitability and the efficiency with which its capital is employed.

Equity

The value of an ownership interest in property, including shareholders' equity in a corporation.

Debt

An amount of money borrowed by one party from another, under the condition that it is to be paid back at a later date, usually with interest.