All games have which features?
A) prices, rules, and payoffs
B) rules, markets, and prices
C) rules, strategies, and payoffs
D) rules, strategies, and costs
E) equilibrium, prices, and quantities

Question

Quizplus · Accepted Answer

Rules are necessary for any game, as they set the boundaries and define the actions and interactions of the players. Strategies are also a fundamental aspect of games, as they represent the decision-making process of the players and how they choose their actions based on the information available to them. Finally, payoffs are the end result of the game, representing the rewards or punishments that each player receives based on the outcome. Prices, markets, and costs are not necessarily present in all games, whereas equilibrium and quantities are more specific concepts that may apply only to certain types of games.

All Games Have Which Features