Asked by Alyssa Freitas on Sep 23, 2024

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​The zero sum fallacy refers to

A) ​You gaining only if someone else loses
B) The allocation of the pieces of the total economic pie- if you eat the piece,I cannot consume it
C) Ignores the possibility of the total pie growing itself
D) ​All of the above

Zero Sum Fallacy

The incorrect belief that economic transactions are like a zero-sum game, where one party's gain is exactly matched by another's loss, ignoring the potential for mutual benefit.

Economic Pie

A metaphorical term referring to the total amount of wealth or resources available in an economy, which can be divided among individuals or groups.

Total Pie

The entire available resource or benefit that can be shared or distributed among parties.

  • Identify the misunderstandings associated with the zero-sum fallacy in economic dealings.
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BH
Baqer Hamid7 days ago
Final Answer :
D
Explanation :
The zero sum fallacy refers to the misconception that in any situation, one party's gain is exactly balanced by another party's loss, ignoring the possibility of all parties benefiting or the "economic pie" growing, which encompasses all the options provided.