Examlex

Solved

The Power to Govern Based on the Consent of the Majority

question 37

Short Answer

The power to govern based on the consent of the majority being governed is known as ______________.


Definitions:

Firm(s)

Business entities involved in commercial, industrial, or professional activities, aiming to generate profits from their operations.

Concentration Ratio

A measurement of the market share of the largest firms within an industry, indicating the level of competition.

Firms

Business entities that engage in commercial, industrial, or professional activities, often distinguished by their legal structure and objectives.

Cutthroat Competitor

A business or firm that aggressively competes in the market, often through pricing strategies, innovation, or marketing, to capture a significant share from rivals.

Related Questions