Examlex
Discuss the two possible scenarios when mapping an associative entity.
Principal-Agent Problem
A dilemma in relationships where one party (the agent) is supposed to act in the best interest of another (the principal) but may have an incentive to act in their own self-interest instead.
Political Corruption
The misuse of public power or position for personal gain, undermining the integrity and fairness of political processes.
Public Choice Theory
The economic analysis of government decision making, politics, and elections.
Government Failure
A situation where government intervention in the economy creates inefficiencies and leads to a misallocation of resources.
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