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What Is the Organizational Structure of Congress? Describe Some of the Main

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What is the organizational structure of Congress? Describe some of the main differences between the House and the Senate. What are some of the leadership positions in both houses, and what are their functions? What are some of the types of committees? What role do political parties play in the distribution of congressional power?


Definitions:

MR = MC

An economic principle stating that profit maximization occurs when marginal revenue equals marginal cost.

Profits

The financial gain obtained when the revenue generated from business activities exceeds the expenses, costs, and taxes needed to sustain those activities.

Economic Effects

The influence of various factors, including policies, market shifts, and external events, on the economy's performance, structure, and behavior.

Income Transfer

The reallocation of money from one group to another through mechanisms like taxes, subsidies, welfare payments, or other social assistance programs.

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