Examlex
________ theory emphasizes that one should use the categorical imperative and judge an action by applying it universally.
Deadweight Losses
Economic inefficiencies that occur when equilibrium in a market is not achieved or when market allocation of resources is not optimal, often due to externalities or government intervention.
Consumer Surplus
A rephrased definition: The economic benefit that consumers receive when they can purchase a product for less than the maximum price they are willing to pay.
Consumer Surplus
The gap between the overall sum consumers are ready and able to spend on a product or service and what they really spend.
Cognitive Dissonance
A psychological discomfort experienced when simultaneously holding two or more conflicting beliefs, ideas, or values.
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