Which System Develops When the Winner of an Electoral Race

question 21

Multiple Choice

Which system develops when the winner of an electoral race obtains more votes than any other candidate?

• A) the majority system
• B) the plurality system
• C) proportional representation
• D) the winner-take-all system
• E) the spoils system

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Definitions:

COGS

Cost of Goods Sold (COGS) refers to the direct costs associated with the production of goods sold by a company, including material and labor costs.

Gross Margin

Revenue less cost where cost is spending closely associated with production. Stated in dollars or as a percent of revenue. A fundamental measure of a business’s strength.

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenues.

Dividends

Monetary distributions from a company to its shareholders, often based on the profits of the business.