The Australian Constitution Can Be Amended

question 52

Multiple Choice

The Australian Constitution can be amended:

• A)By an Act of Parliament.
• B)By a referendum passed by a majority of voters in a majority of states.
• C)By an amendment passed by an absolute majority of both Houses of parliament and by a referendum passed by a majority of voters in a majority of States and receiving Royal Assent.
• D)By a proposed amendment receiving Royal Assent.

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Definitions:

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, allowing for some degree of market power and product differentiation.

Economic Profit

A rephrased definition: The profit achieved after deducting both explicit and implicit costs, representing the true surplus from economic activities.

Monopolistic Competition

A market structure where many companies sell products that are similar but not identical.

Marginal Cost

The increase in costs from making an additional unit of a product or service.