Explain the meaning of this statement

Assignment Help Business Economics

Reference no: EM13147714

“Government action is based on majority rule, whereas market action is based on mutual consent. The market allows for proportional representation of minorities, but minorities must yield to the views of the majority when activities are undertaken through government.” In your own words, explain the meaning of this statement. Is the statement true? Why or why not?

Reference no: EM13147714

Questions Cloud

Why consumers price elasticity for ice cream elasticity : Why might consumers’ price elasticity for ice cream cones once they are in an ice cream store be .20 and their longer-term price elasticity be 1.2?

What percent of the garages take hours to erect : Determine the z values for 29 and 34 hours. What percent of the garages take between 32 hours and 34 hours to erect? What percent of the garages take between 29 hours and 34 hours to erect?

What is the partial pressure of gas collected : A gas is collected over water at a certain temperature. The total pressure is 762 torr. The vapor pressure of water at this temperature is 17 torr.

Prepare adjusting entry to record the accrual of interest : Prepare the journal entry to record the issuance of the bonds. Prepare the adjusting entry to record the accrual of interest on December 31, 2008. Show the balance sheet presentation on December 31, 2008.

Explain the meaning of this statement : The market allows for proportional representation of minorities, but minorities must yield to the views of the majority when activities are undertaken through government.” In your own words, explain the meaning of this statement. Is the statement ..

What is the molarity (m) of the solution : If 60.0 g of H3PO4 is dissolved in enough water to form 175 mL of solution, what is the molarity (M) of the solution?

Does the overall production technology now have increasing : You can now think of the firm as using two additional inputs, pollution vouchers and smokestack filters, to produce x output legally. Does the overall production technology now have increasing, constant, or decreasing returns to scale?

Problem related to shares of stock outstanding : Hawk Corporation has 300 shares of stock outstanding: Marina owns 60 shares, Kent owns 90 shares, and Tom owns 75 shares. Blackbird Partnership owns the remaining 75 shares of stock in Hawk Corporation.

Cottonwood and which a juniper? why? : Which of these might be a cottonwood and which a juniper? Why?

User Account

All Pages