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In entity relationship diagrams (ER diagrams), a weak entity set is indicated by a bold (or double-lined) rectangle (the entity) connected by a bold (or double-lined) type arrow to a bold (or double-lined) diamond (the relationship). This type of relationship is called an identifying relationship and in IDEF1X notation it is represented by an ...
An economic system, or economic order, [1] is a system of production, resource allocation and distribution of goods and services within a society. It includes the combination of the various institutions , agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community.
A semi-presidential republic is a government system with power divided between a president as head of state and a prime minister as head of government, used in countries like France, Portugal, and Egypt. The president, elected by the people, symbolizes national unity and foreign policy while the prime minister is appointed by the president or ...
The historical antecedents of law and economics can be traced back to the classical economists, who are credited with the foundations of modern economic thought.As early as the 18th century, Adam Smith discussed the economic effects of mercantilist legislation; later, David Ricardo opposed the British Corn Laws on the grounds that they hindered agricultural productivity; and Frédéric Bastiat ...
It defines the process for making official government decisions. It usually comprizes the governmental legal and economic system, social and cultural system, and other state and government specific systems. However, this is a very simplified view of a much more complex system of categories involving the questions of who should have authority ...
With regards to the role of the government, the primary responsibility of the state is to ensure there is an effective infrastructure for businesses to conduct in a free market society, where private ownership is key. [8] What constitutes an effective infrastructure (which economic law is a segment of) differs between states.
Research from the World Economic Forum looked into what executives in different regions class as the biggest threats to firms. Cyber-attacks, weak government, and energy shocks pose biggest risks ...
A government facing the same information constraints as the private individuals in the economy can nevertheless find Pareto-improving policy interventions. [ 34 ] Greenwald and Stiglitz noted several relevant situations, including how moral hazard may render a situation inefficient (e.g. an alcohol tax may be pareto improving as it reduces ...