Identify the Components of the DRGRAC Method of Delegation and Discuss

question 61

Essay

Identify the components of the DRGRAC method of delegation and discuss the information that should be communicated downward within each component.

---

Definitions:

Median-Voter Model

The theory that under majority rule the median (middle) voter will be in the dominant position to determine the outcome of an election.

Economically Efficient

Refers to a situation where resources are allocated in the most effective way, maximizing production while minimizing waste and inefficiency.

Dollar Voting

Dollar voting is the concept where consumers influence market trends and production decisions through the choices they make with their spending.

Competitive Markets

Markets characterized by many buyers and sellers where no single participant has significant influence over market prices.