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A caste is a fixed social group into which an individual is born within a particular system of social stratification: a caste system. Within such a system, individuals are expected to marry exclusively within the same caste (endogamy), follow lifestyles often linked to a particular occupation, hold a ritual status observed within a hierarchy ...
t. e. The median voter theorem in political science and social choice theory, developed by Duncan Black, states that if voters and candidates are distributed along a one-dimensional spectrum and voters have single-peaked preferences, any voting method that is compatible with majority-rule will elect the candidate preferred by the median voter ...
The neoclassical approach is to call on rational economic man to solve both. Economic relationships that reflect rational choice should be ‘projectible’. But that attributes a deductive power to ‘rational’ that it cannot have consistently with positivist (or even pragmatist) assumptions (which require deductions to be simply analytic ...
v. t. e. An economic model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified, often mathematical, framework designed to illustrate complex processes. Frequently, economic models posit structural parameters. [1]
In international institutional law, a simple majority (also a plurality) is the highest number of votes cast (disregarding abstentions) among alternatives. However, in many jurisdictions, a simple majority is a stronger requirement than plurality (yet weaker than absolute majority) in that more votes than half cast, excluding abstentions, are required.
Plurality voting is the most common ranked voting system, and has been in widespread use since the earliest democracies.As plurality voting has exhibited weaknesses from its start, especially as soon as a third party joins the race, some individuals turned to transferable votes (facilitated by contingent ranked ballots) to reduce the incidence of wasted votes and unrepresentative election results.
t. e. Economics (/ ˌɛkəˈnɒmɪks, ˌiːkə -/) [1][2] is a social science that studies the production, distribution, and consumption of goods and services. [3][4] Economics focuses on the behaviour and interactions of economic agents and how economies work.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...