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The committee system, when in use, can be quite restrictive on the power of individual members of Congress since they are expected to mainly work in the policy area congruent with their committee. Why do members accept a system where their power is restricted?
Supply Curve
A graphical representation showing the relationship between the price of a good or service and the quantity of that good or service that suppliers are willing to offer for sale at that price.
Demand Curve
Represents the relationship between the quantity of a good that consumers are willing and able to purchase and the price of that good.
Equilibrium Price
The rate at which the demand for a good or service matches its supply, creating a state of market equilibrium.
Producer Surplus
The gap between what sellers are willing and able to accept for a good and the actual price they get because of the market conditions.
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