Examlex
Machine-to-machine (M2M)technology enables sensor-embedded products to share reliable real-time data via satellite or optics.
Unintended Consequences
Outcomes of a policy or action that were not foreseen or intended, often contrary to the original objectives.
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.
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