Examlex
What is a USP? When would a marketer use a USP strategy?
Principal-Agent Problem
An economic conflict where an individual (the agent) has the responsibility to act for the benefit of another party (the principal), but might fail to do so because of differing interests.
Representative Democracy
A form of government where citizens elect officials to represent their interests and make decisions on their behalf in the legislative process.
Private Business
A business entity owned and operated by private individuals, not controlled by the government, and aimed at earning profit.
Public Agencies
Government departments or organizations that operate within the public sector, providing services to the nation or a community.
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