List Two Main Actors Who Are Involved in the Policymaking

question 15

Essay

List two main actors who are involved in the policymaking process and provide an example of each. Which stage(s) of the policymaking process are these actors involved in, and what function do they have as part of the process?

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Definitions:

Payoffs

The returns or outcomes from different decisions or actions in decision theory and economics.

Expected Monetary Values

A calculation used in decision-making to determine the probable monetary gain or loss from an action, by multiplying possible outcomes by their respective probabilities and summing these products.

Payoffs

The returns or outcomes received from a particular action or investment, often discussed in game theory and economics.

Decision Alternative

Different courses of action or strategies that a decision-maker can choose from in a decision-making process.