Which of the Following Is a Feature of a Democracy

question 82

Multiple Choice

Which of the following is a feature of a democracy?

• A) Exercise of absolute control by one person or political party.
• B) Governance by people or elected representatives.
• C) Prohibition of entry to opposing political parties.
• D) Complete restriction of individual political freedom.

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Definitions:

Above-Equilibrium Wage Rate

A situation where the wage for a job is set higher than the market equilibrium, typically leading to surplus labor supply.

Unit Labor Costs

The cost incurred by a company to produce one unit of output, specifically focusing on labor expenses.

Shirking

The behavior of employees who work less hard or less efficiently when they feel that their efforts are not being adequately monitored or rewarded.

Principal-Agent Problem

A dilemma in which one party (the agent) is supposed to act in the best interest of another party (the principal) but may act in their own interest instead.