What Resource(s) Are Interest Groups Able to Use to Influence

question 38

Multiple Choice

What resource(s) are interest groups able to use to influence politics?

• A) members
• B) ability to raise money
• C) credibility
• D) All of these are correct.

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Definitions:

Elastic Supply Curve

A concept in economics describing a supply curve where the quantity supplied changes significantly in response to a change in price.

Purely Competitive Market

An economic structure where numerous small companies, a uniform product, unimpeded access and exit, and absolute knowledge prevail.

Industry Exit

The process by which a company ceases operations in a specific industry, typically due to financial losses, market competition, or changing industry conditions.

Long Run Adjustments

Changes or adaptations made by firms in response to long-term changes in market conditions, where all inputs and production capacities can be varied.