Which of the Following Is an Example of the Process

question 51

Multiple Choice

Which of the following is an example of the process of direct democracy?

• A)citizens in a state approving the use of medical marijuana through a popular referendum
• B)a citizen calling her representative to complain about potholes on local roads
• C)a group of citizens coming together to debate the pros and cons of higher taxes
• D)a citizen deciding to contribute money to his preferred presidential candidate

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Definitions:

Oligopoly

A market structure characterized by a small number of firms that control a large majority of the market share, often leading to limited competition.

Pure Monopoly

A pure monopoly is a market structure where a single seller controls the entire supply of a product or service, and where the entry of new competitors is completely blocked.

Purely Competitive Industry

An economic setup where numerous purchasers and vendors exist, entry and exit are unrestricted, and the product offered is identical across sellers.

Oligopoly

Oligopoly is a market structure characterized by a small number of firms whose decisions about production and pricing significantly affect the market.