Which of the Following Statements Is Incorrect

question 7

Multiple Choice

Which of the following statements is incorrect?

• A) Consensus government is a system of governance that operates without political parties.
• B) Two of three territories operate under the system of consensus government.
• C) Consensus government requires all laws be passed by unanimous consent in the legislature.
• D) In consensus government, legislators decide who should form cabinet.

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Definitions:

Price-fixing

An illegal agreement among competitors to set prices at a certain level, preventing competition and harming consumers.

Industrial Regulation

Policies and laws enforced by government agencies to regulate industries in order to promote fair competition and protect consumers.

Antitrust Policy

Government regulations designed to promote competition and prevent monopolies, mergers, or cartels that harm consumers.

Single-seller Monopoly

A market structure in which only one producer or seller exists for a product that has no close substitutes, giving them significant market power.