As Opposed to Pluralist Theory, Elite Theory Posits That

question 67

Multiple Choice

As opposed to pluralist theory, elite theory posits that

• A) those in power should raise and spend money to influence the outcome of elections.
• B) change is favorable and elite power must be used to protect the economic interests of the public at large.
• C) interest groups should compete to ensure representation of their interests in policy.
• D) there is no mobility in the power structure, and that accessibility is an issue.
• E) wealthy, educated individuals control the direction of major policy.

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Definitions:

Labor

The effort by individuals to produce goods or services in exchange for wages or salary.

Wages

Payments made by employers to employees for their labor, typically calculated on an hourly, daily, or piecework basis.

Marginal Revenue Product

The additional revenue produced by adding one more unit of a specific input (like labor), assuming other inputs remain constant.

Perfect Competitor

A hypothetical market scenario where numerous small firms compete against each other, and none of them can influence the market price.