• Card 11 / 19: Explain why you probably receive better service at Walmart than at the Department of Motor Vehicles.

    Answer:
    The DMV has a monopoly on its "services" and thus has little incentive to keep its "customers" satisfied. In contrast, if Walmart employees consistently treat customers rudely, Walmart will lose market share and eventually go out of business if the problem is severe enough. Sample Partial Credit Answer Walmart has competition.

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Socialism: The Command Economy

Access: Public Peer Review

Attribution:  Dr. Robert P. Murphy, Lessons for the Young Economist. (Mises Institute), http://mises.org/document/6215/Lessons-for-the-Young-Economist (Accessed 04 April, 2014). License: Creative Commons BY
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