In the Context of Political Science, the Development of a Legislative

question 10

Multiple Choice

In the context of political science, the development of a legislative body into a formally structured system with stable membership, complex rules, expanded internal operations, and the delineation of staff functions is known as

• A) politicalization.
• B) democratization.
• C) institutionalization.
• D) socialization.
• E) structurization.

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Definitions:

Monopolistic Competition

Monopolistic competition is a market structure where many firms sell products that are similar but not identical, allowing for significant differentiation and some price control.

Long-run Minimum

pertains to the lowest level of input costs or output prices a firm can achieve over a period during which all input factors are variable.

Monopolistic Competition

A market structure characterized by many firms producing slightly differentiated products, leading to competitive prices and some degree of market power for each firm.

Relatively Elastic

Describes a situation in which the quantity demanded or supplied responds significantly to changes in price.