In the Winner-Take-All System

question 35

Multiple Choice

In the winner-take-all system

• A) the candidate who gets the most votes wins.
• B) one must get a majority of votes cast to win.
• C) votes are allocated on a proportional basis.
• D) only parties receiving more than 5 percent of the vote are allocated seats.
• E) a party must have competed in a previous election to be placed on the ballot.

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Definitions:

Fixed Cost

Expenses that do not change with the level of production or sales over the short term, such as rent, salaries, and insurance.

Period Cost

An expense that is not directly tied to the production process but rather incurred over a specific time period.

High-low Method

A technique used in accounting and finance to estimate variable and fixed costs based on the highest and lowest levels of activity.

Total Fixed Costs

The sum of all costs that do not change with the level of production or sales, over a specified period of time.