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Author Question: List two economic reasons why representative democracy makes sense What will be an ideal ... (Read 107 times)

809779

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on: Jul 1, 2018
List two economic reasons why representative democracy makes sense
 
  What will be an ideal response?

Question 2

In a perfectly competitive market,
 
  A) firms can freely enter and exit.
  B) firms sell a differentiated product.
  C) transaction costs are high.
  D) All of the above.


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nickk12214

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Reply #1 on: Jul 1, 2018
Answer to Question 1

Representative democracy makes economic sense for two reasons. First, having fewer individuals involved in the decision-making process will lower the costs of making decisions. Second, there are benefits from specialization and having some individuals specialize in politics (or certain political issues) makes economic sense.

Answer to Question 2

A


809779

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Reply #2 on: Jul 1, 2018
Correct answers!


nickk12214

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Reply #3 on: Jul 1, 2018
Great! Please up vote :D


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