Examlex
What percent of the average health care dollar spent in the United States comes directly from the consumer?
Majority Voting
A voting system where decisions are made and actions are taken based on the preferences of the majority of voters, often applied in democratic governance and organizational decision-making.
Rent-Seeking Behavior
Actions by individuals or businesses to increase their own wealth without contributing to productivity or value creation, often through political manipulation or exploitation of resources.
Irrational Preferences
Choices or decisions that are not in line with conventional logic or economic efficiency.
Public Good
is a good that is non-excludable and non-rivalrous, meaning no one can be excluded from its use, and one person's use does not reduce its availability to others.
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