In a Competitive Market for a Private Good with No

question 224

Multiple Choice

In a competitive market for a private good with no price or quantity regulations,no external cost nor external benefit,low transactions costs,and no taxes or subsidies,

• A) the allocation of resources is planned by the government.
• B) production is organized by government organizations.
• C) efficiency can be attained in the market with no government intervention.
• D) efficiency is usually be achieved by majority rule.
• E) efficiency is generally obtained by using a command system.

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Definitions:

Commutator

A device used in electric motors and generators to periodically reverse current direction between the rotor and the external circuit.

Alternators

Machines that convert mechanical energy to electrical energy by producing alternating current, commonly used in cars to charge the battery and power the electrical system when the engine is running.

Revolving-field-type

The revolving-field-type refers to a design in electrical machines, particularly alternators, where the magnetic field rotates around a stationary armature, inducing an alternating current.

Non-rotating Part

Components in machinery or devices that do not move around an axis, contrasting with rotating parts, typically providing structural support or enclosing moving parts.