Majority Rule Will Produce the Outcome Most Preferred by the Median

question 21

True/False

Majority rule will produce the outcome most preferred by the median voter.

---

Definitions:

Merchandising Company

A business entity that purchases goods in a finished condition and sells them without further processing.

Operating Expenses

The costs associated with running a business's core activities on a day-to-day basis, excluding the cost of goods sold.

Non-Operating Items

Income or expenses that are not related to a company's core business operations, often including gains or losses from investment or interest expenses.

Loss From Operations

A financial situation where a company's operating expenses exceed its gross profits, indicating inefficiency in business operations.