Asked by
Sophia Fernandez
on Dec 11, 2024
Verified
The branch of economics that attempts to understand the outcomes observed in the public sector by examining the incentives faced by the individual actors involved (such as voters, politicians, and bureaucrats) is known as
A) private choice analysis.
B) public choice analysis.
C) government operations analysis.
D) incentive analysis.
Public Choice Analysis
A study that applies economic principles to political science, focusing on the behavior of voters, politicians, and government officials.
Incentives
Designed mechanisms or motivators that encourage specific behaviors or actions by offering rewards or consequences.
Public Sector
The part of the economy that is controlled by the government, encompassing all governmental services and publicly funded entities and activities.
- Gain an understanding of the principles underlying public choice theory and their relevance to the political process and decisions made by government bodies.
Verified Answer
SS
Learning Objectives
- Gain an understanding of the principles underlying public choice theory and their relevance to the political process and decisions made by government bodies.