Examlex
What role did the Consistory play in Calvinist Geneva?
Net Social Gain
The overall benefit to society, created when the total value generated by an action exceeds the total costs associated with it.
Rent-Seeking Activities
Practices of gaining economic benefits without contributing to productivity, typically through manipulation of the political environment.
Monopoly Power
The exclusive control by one company over an entire industry or market, allowing it to dictate terms and prices without competition.
Welfare Loss
This refers to the decrease in economic efficiency that occurs when the equilibrium for a good or service is not achieved or is distorted by external intervention, leading to a loss of social surplus.
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