Examlex
What are the typical resistances to change that can be expected in organizations?
Median Voter
The voter positioned at the median of the preference spectrum, whose choices can represent the most typical or moderate viewpoint in the voting population.
Economically Inefficient
A situation where resources are not allocated in a way that maximizes the total benefit to society, often resulting in wasted or misallocated resources.
Voter Failure
A situation where voters are uninformed or make irrational decisions, leading to outcomes not reflecting the true preferences of the majority.
Allocative Efficiency
A state of the economy in which production represents consumer preferences; every good or service is produced up to the point where the last unit provides a utility level equal to the cost of producing it.
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