Examlex
Laws are designed to serve a general function that is the promotion of justice for businesses.
Negative Externalities
Costs suffered by a third party as a result of an economic transaction they were not involved in, such as pollution.
Unethical And Illegal Behavior
Actions that are morally wrong and prohibited by law, ranging from fraud and corruption to violations of human rights.
Paradox Of Voting
The situation where the individual incentive to vote (given the small chance of influencing the outcome) contrasts with the collective benefit of everyone voting.
Rent-Seeking Behavior
Rent-seeking behavior occurs when individuals or firms seek to increase their own wealth without contributing to productivity, often through political manipulation or monopolistic practices.
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