For Practical Reasons,most Nations Have Resorted to ________ Democracy in Which

question 94

Essay

For practical reasons,most nations have resorted to ________ democracy in which citizens nominate individuals from their groups to represent their political needs and views.

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Definitions:

Purchasing Power

The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy.

Heckscher-Ohlin Theory

An economic theory stating that countries will export products that utilize their abundant and cheap factor(s) of production and import products that require resources that are rare or expensive domestically.

Factor Endowments

The quantities of various resources a country possesses, which can affect its comparative advantage in international trade.

Free-Trade Theories

Economic theories advocating for the elimination of barriers to the exchange of goods and services between nations, to encourage trade and economic growth.