Discuss the Pros and Cons of Term Limits with Respect

question 8

Essay

Discuss the pros and cons of term limits with respect to the legislative process.How has the passage of Proposition 28 (2012) altered the vision of term limits? What other government and nongovernment groups gain or lose clout as a result of term limits? What do term limits say about representative democracy?

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Definitions:

Accounting Profits

The total revenues of a business minus the explicit costs, essentially the net income on the financial statements.

Total Revenue

The total income received by a firm from its sales of goods or services, calculated as the quantity sold multiplied by the selling price.

Barriers to Entry

Factors that prevent or hinder new competitors from easily entering an industry or area of business.

Short Run

A time period in economics during which some factors of production are fixed, influencing decisions on production and costs.