Examlex
The middle ear-consisting of the hammer, anvil, and stirrup-is responsible for which of the following?
Concentrated Benefit
Concentrated benefit refers to situations in economic policy where a particular policy's benefits are received by a relatively small, identifiable group, while the costs are diffused across a large group.
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.
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