Author Question: Are you likely to find perfect political competition in the real world? Explain. What will be an ... (Read 88 times)

evelyn o bentley

  • Hero Member
  • *****
  • Posts: 564
Are you likely to find perfect political competition in the real world? Explain.
 
  What will be an ideal response?

Question 2

What is meant by operating profit or net operating revenue?
 
  What will be an ideal response?



Kedrick2014

  • Sr. Member
  • ****
  • Posts: 359
Answer to Question 1

No, perfect political competition is a useful benchmark but does not describe many real-world situations. There are three reasons why political competition may be restricted.
First, free entry to the political arena is difficult to achieve in practice because only well-organized and established parties can compete in elections, and this tendency has only become greater as the importance of money in politics has increased.
Second, politicians and parties have ideological biases, and a party with a left-wing bias would not campaign with a promise of low taxes even if this may be what the median voter wants.
Third, politicians are often highly self-interested and sometimes even untrustworthy. Becausetheir promises may not be very reliable, they may deviate from implementing the median voter's policy preferences.
A-head: CONFLICT OF INTEREST AND POLITICAL ECONOMY
Concept: Perfect political competition

Answer to Question 2

Operating profit is equal to total revenue minus total variable cost.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

For a complete list of videos, visit our video library