Question

What is the cost of voting in an election?

Short answer

The vote is a collective decision made by a group.

Step-by-step solution

Step 1. Definition

Voting is a method by which people or organizations collectively come to a decision or express their opinion. Democracies in various countries elect their representatives of high office through voting.

Step 2. Explanation

So the cost of voting in an election covers various costs not only the monetary costs.

Like the cost of transportation cost of campaigns, cost of the meeting, cost of your time invested, etc. The cost of becoming informed is also considered in the cost of voting, explicit costs, implicit costs like you are learning about the political policies, your time opportunity cost. So, these are a few examples of the cost of voting in an election.