List two economic reasons why representative democracy makes ...

[809779]

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.

[nickk12214]

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]

Correct answers!

[nickk12214]

Great! Please up vote