SCORE Refers to

question 51

Multiple Choice

SCORE refers to

• A)the grade assigned to a small firm by the SBA.
• B)the management knowledge possessed by an entrepreneur.
• C)a group of retired executives who act as consultants to small firms.
• D)an alliance of small firms for the purpose of bidding on government contracts.

Understand the concept and impacts of rent seeking, logrolling, and special-interest effects in government decision-making.

Comprehend the principles of excludability and rivalry in the context of goods consumption.

Analyze the role and effects of majority voting and the paradox of voting in political decisions.

Understand the principal-agent problem in both private and public sectors.

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Definitions:

Industrial Nations

Countries characterized by significant industrial activity, having a large part of their economy involved in manufacturing and technology.

Collective Bargaining

A process of negotiation between employers and a group of employees aimed at agreements to regulate working salaries, working conditions, benefits, and other aspects of workers' compensation and rights.

Strike

When a collective bargaining agreement cannot be reached, a union calls for a work stoppage to last until an agreement is reached.

Employer

An employer is an individual or organization that hires and pays for the services of workers to perform specific jobs.