In Reality, There Is Very Little Difference Between a Pure

question 157

True/False

In reality, there is very little difference between a pure democracy and a representative democracy.

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Definitions:

Managers

Individuals responsible for controlling or administering an organization or group of staff.

Marginal Revenue Product

The extra revenue generated by employing one more unit of a factor, such as labor or capital, holding other factors constant.

Variable Factor

An input whose quantity can change depending on the level of production or the scale of operations in the short run.

Production

The process of creating goods or services by combining labor, capital, and resources to meet consumer demands.