Examlex
The value of the x-coordinate of a point in a graph is the length of a line from the point to the
Paradox Of Voting
The situation where individual rational choice leads to a situation where collective rational outcomes are not achieved, often resulting in the non-optimal allocation of resources.
Government Failure
Occurs when government intervention in the economy leads to an inefficient allocation of resources or fails to achieve the intended outcomes.
Public Choice Theory
A theory in economics and political science that studies how public sector actions and policies are influenced by the self-interest of individuals, especially politicians and bureaucrats, as opposed to the public good.
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