Question 1

Conflict of interest arises in a society because ________.

Accepted Answer

Conflicts of interest in society often arise because individuals or groups have opposing economic interests, leading to disagreements on policies or resource distribution.

Question 2

Which of the following is an example of a conflict of interest?

Accepted Answer

A conflict of interest occurs when an individual or organization is involved in multiple interests, one of which could possibly corrupt the motivation for an act in another. In option A, the local government's decision-making process could be influenced by the discontent of the residents, potentially leading to a conflict between the government's duty to proceed with public projects and the interests of the local residents.

Question 3

Political economy is the study of ________.

Accepted Answer

Political economy examines the relationship between politics and economics, including how government policy influences economic behavior and how economic forces can shape political decisions.

Question 4

________ is the political system in which public officials are elected by the people.

Accepted Answer

Representative democracy is the political system where public officials are elected by the people to represent their interests in the government.

Question 5

In Carribia, public officials are elected by the citizens, and are empowered to act on behalf of the citizens. Carribia's political system is an example of a(n) ________.

Accepted Answer

Carribia's system, where public officials are elected by citizens to act on their behalf, is characteristic of a representative democracy. This is because in a representative democracy, citizens elect representatives to make decisions and govern on their behalf.

Question 6

Realmium is ruled by a single person who pursues policies of her own interest. Realmium's political system is an example of a(n) ________.

Accepted Answer

A dictatorship is a form of government where a single person or a small group holds absolute power, often pursuing policies in their own interest without regard for the will of the people.

Question 7

Who among the following act(s) on behalf of the citizens in a representative democracy?

Accepted Answer

In a representative democracy, public officials are elected or appointed to act on behalf of the citizens, making decisions and creating laws that reflect the will and interests of the populace. Militant groups, religious leaders, and royal families do not inherently represent the citizens in the context of a representative democracy.

Question 8

In a representative democracy, ________.

Accepted Answer

In a representative democracy, citizens elect officials to represent them in the government, and these officials can be voted out of office if the electorate is dissatisfied with their performance. This is a fundamental principle of representative democracies, distinguishing them from monarchies, dictatorships, or other forms of government where leaders are not elected by the populace or cannot be easily removed from power through elections.

Question 9

The term democracy has its roots in ________.

Accepted Answer

The term democracy originates from Ancient Greece, specifically from the Greek words "demos" (meaning "people") and "kratos" (meaning "power" or "rule"), thus translating to "rule by the people."

Question 10

Which of the following is true of a monarchy?

Accepted Answer

In a monarchy, the head of state is usually a king, queen, or emperor, and their position is often inherited rather than elected, meaning they are not replaced through regular electoral processes.

Question 11

Which of the following is true of a dictatorship?

Accepted Answer

Those in power are not replaced through elections.

Question 12

If John prefers tea to coffee and coffee to milk shake, we would know for sure that John prefers tea to milk shakes. This property, which preserves consistency in the choices that an individual would make, is referred to as ________.

Accepted Answer

Transitivity is the property that maintains consistency in preferences, such that if an individual prefers A over B and B over C, then they must prefer A over C.

Question 13

An individual prefers Choice A to Choice B and Choice B to Choice C. His preferences are transitive if ________.

Accepted Answer

Transitivity in preferences means if an individual prefers A over B and B over C, then they must prefer A over C for their preferences to be considered transitive.

Question 14

Jim prefers Hotel A to Hotel B and Hotel B to Hotel C. If Jim?s preferences are transitive,________.

Accepted Answer

Transitivity in preferences means if Jim prefers A to B and B to C, then he must also prefer A to C.

Question 15

Layla prefers reading to walking and walking to swimming. If her preferences are transitive, ________.

Accepted Answer

Transitivity means if Layla prefers reading to walking and walking to swimming, then she also prefers reading to swimming.

Question 16

Johnathan prefers pastas to burgers, and pizzas to pastas. If his preferences are transitive,________.

Accepted Answer

Transitivity in preferences means if Johnathan prefers pizzas to pastas and pastas to burgers, then he must prefer pizzas to burgers, making option A correct.

Question 17

________refers to the condition that if there is a vote between two options, 1 and 2, and all voters prefer 1 to 2, then 1 should be selected.

Accepted Answer

Unanimity refers to the principle that if every voter prefers option 1 over option 2, then option 1 should be chosen. This principle ensures that the collective choice reflects the unanimous preference of the voters.

Question 18

________refers to the condition that if there is a vote between 1 and 2, then the preferences of voters concerning the comparison of one of these against some third option, say option 3, should have no bearing on the outcome of the vote.

Accepted Answer

Independence of irrelevant alternatives refers to the criterion in social choice theory that the preference between any two options should not be affected by the introduction or removal of additional options.

Question 19

Which of the following best illustrates the property of transitivity of preferences?

Accepted Answer

The property of transitivity of preferences means if a person prefers option X over Y and prefers Y over Z, then they should also prefer X over Z. Choice A directly illustrates this concept.

Question 20

According to Arrow's condition of unanimity in a voting scheme, if there is a vote between two options X and Y, ________.

Accepted Answer

Arrow's condition of unanimity (also known as the Pareto principle) in a voting scheme states that if every voter prefers one option over another, then the group preference should reflect that unanimous preference. Therefore, if all voters prefer X to Y, then X should be selected.

Quiz 17: Web: Political Economy