Examlex
The Center for Media and Public Affairs found that in the 2008 election,Barack Obama received the most favorable coverage of any general-election candidate for the presidency since 1980.With this in mind,what does the evidence for media bias indicate?
Externality
A consequence of an industrial or commercial activity which affects other parties without this being reflected in market prices.
Property Rights
Legal rights to use, control, and benefit from a resource.
Free-Rider Problem
A situation where individuals consume a public good without contributing to its cost, leading to underprovision or overuse.
Coase Theorem
A principle that asserts that if property rights are clearly defined and transaction costs are low, private negotiations will lead to the efficient resolution of disputes regardless of initial distribution of rights.
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