Examlex
What theory suggests that right and wrong are determined by the consequence of the action and we should maximize the most good for the greatest number of people?
Megawatts
A unit of power equal to one million watts, often used to describe the output capacity of power plants or the amount of electricity required by large entities.
Rent-Seeking Behavior
Actions by individuals or companies to increase their own wealth without creating new wealth or value, often through manipulating the environment in which economic activities occur.
Health Insurance
A type of insurance coverage that pays for medical and surgical expenses incurred by the insured or reimburses them for expenses incurred from illness or injury.
Net Social Cost
The comprehensive expense to the community for the production of one more unit of an item, encompassing both personal expenses and external factors.
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