Examlex
A greedy shop owner uses deceptive business practices because he believes that his customers are out to cheat him any way they can.This shop owner is protecting his self-image by using which defense mechanism?
Voting Paradox
The voting paradox, or Condorcet paradox, illustrates a situation in a voting system where collective preferences can be cyclic, even if the individual preferences are non-cyclical.
Voter Failure
A situation where voters make an uninformed or poor choice, often due to lack of information or misleading information, that does not align with their interests.
Negative Externalities
Costs or disadvantages suffered by a third party due to an economic transaction that they are not directly involved in.
Economic Efficiency
A state in which resources are allocated in a way that maximizes the production of goods and services at the least cost and minimum waste.
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