Explain the Difference Between Efficiency and Effectiveness

question 4

Essay

Explain the difference between efficiency and effectiveness.

Describe the concept of regulatory capture and its implications on industry regulation and economic efficiency.

Analyze the impact of political behavior, including lobbying and vote trading (logrolling), on government decision making and policy outcomes.

Understand the concept of limited and bundled choice in elections and its implications for public choice.

Understand the differences between dispositional and situational attributions.

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Definitions:

Self-regulation

The ability to monitor and control one's own behaviors, emotions, or thoughts, adjusting them according to the demands of the situation.

Positive Reinforcement

Increasing a desired behavior by rewarding it with a positive stimulus.

Organizational Behaviour Modification

A form of applied behavior analysis which applies psychological principles to the workplace to improve individual and group performance.

Behaviour Modelling Training

A training method that involves observing, learning, and replicating a behavior performed by a model.