Final answer:
The concept that a large group of people is better at making good decisions than a single person is called The wisdom of crowds.
Step-by-step explanation:
The concept that a large group of people is better at making good decisions than a single person is called The wisdom of crowds. This idea suggests that collective intelligence emerges when diverse individuals independently contribute their knowledge and perspectives. By considering a wide range of inputs, the group can arrive at a more accurate and informed decision.