The View That Free Elections Are a Sufficient Condition for Democracy

question 42

True/False

The view that free elections are a sufficient condition for democracy is known as the democratic fallacy.

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Definitions:

Benefit

An advantage or profit gained from something.

Foregone Benefit

The lost potential gain from other alternatives when one alternative is chosen.

Alternative Cost

Also known as opportunity cost, it represents the benefit that is missed or given up when choosing one alternative over another.

Comparative Cost

Analyzing and comparing the costs of different business strategies or production methodologies to identify the most effective option.