Examlex
-What change Would decrease the power factor in Figure 12-2?
Allocating Resources
The process of distributing available resources among various competing needs or projects in an efficient manner.
Invisible Hand
Adam Smith's metaphor describing the self-regulating nature of the marketplace that guides individuals to unintentionally benefit society through personal gain.
Principal-Agent Problem
A dilemma in relationships where one party (the agent) is supposed to act in the best interest of another (the principal) but may have an incentive to act in their own self-interest instead.
Political Corruption
The misuse of public power or position for personal gain, undermining the integrity and fairness of political processes.
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