A Casting Vote Is

question 63

Multiple Choice

A casting vote is

• A) the final determining vote cast by any meeting member.
• B) made after the motion 'that the question now be put' is moved, seconded and won.
• C) a vote to maintain the status quo and follows the British House of Commons practice.
• D) used by the chairperson when the votes for or against a motion are tied.

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Definitions:

Economists

Experts or professionals who study, develop, and apply theories and concepts in economics to analyze how societies utilize scarce resources.

Monopoly

A market condition where a single firm has exclusive control over a product or service, eliminating competition.

Negative Externalities

Adverse effects suffered by a third party or the public as a result of an economic transaction or activity.

Principal-Agent Problem

At a firm, a conflict of interest that occurs when agents (workers or managers) pursue their own objectives to the detriment of the principals’ (stockholders’) goals. In public choice theory, a conflict of interest that arises when elected officials (who are the agents of the people) pursue policies that are in their own interests rather than policies that would be in the better interests of the public (the principals).