According to the Elite Theory, How Much Power Do Voters

question 15

Multiple Choice

According to the elite theory, how much power do voters and the people in general have compared to the rich and powerful?

• A)Absolutely none
• B)Little
• C)Just as much
• D)More
• E)They are all part of the same group.

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Definitions:

Consumer Surplus I

The gap between what consumers are prepared and able to spend on a product or service and what they end up paying.

Price

The amount of money required to purchase a good or service.

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than other producers.

Absolute Advantage

Refers to the capability of an entity to produce a good or service more efficiently than its competitors using the same amount of resources.