The Idea That Governments Draw Legitimacy and Power from the Governed

question 24

Multiple Choice

The idea that governments draw legitimacy and power from the governed is referred to as which of the following?

• A) majority rule
• B) direct democracy
• C) capitalism
• D) popular consent

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Definitions:

Long-Run Equilibria

A state in economics where all factors of production and costs are variable, and firms make decisions to maximize profits without any fixed inputs.

Demand Increases

A situation in which the desire and ability of consumers to purchase a good or service grow, typically leading to higher prices and potentially greater supply.

Market Supply

The total amount of a specific good or service that is available to consumers at current prices in a given market.

Long-Run Equilibrium

A state in which all firms in a market are making normal profits and there is no incentive for market entry or exit, usually achieved in the long term.