When voting mechanisms substitute for the market mechanism in allocating resources, we are relying on

A. Cost-benefit analysis.
B. Public choice theory.
C. Opportunity cost analysis.
D. Ballot box economics.

Answer: D

Economics

You might also like to view...

Demand curves slope ________ because as the price increases and other things remain the same, the quantity demanded ________

A) downward; decreases B) downward; increases C) upward; decreases D) upward; increases E) downward; does not change

Economics

In answer to the question, "Who manages?" the answer is:

a. Everyone does b. Some people do sometimes c. Some individuals rarely manage anything d. It depends, some people manage, others don't

Economics