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Describe in detail about the - policy makers
Elections are used to choose the policy makers, it is not the only mechanism. Since the authority to make decisions may be vested in a policy maker by a single individual or a small group. An elected minister or a nominated bureaucrat may be such person. In that case, it hardly matters who had originally chosen the policy maker to and for what, but it is the ability of such nominated or designated person to maximize the utility of the elected person who provided him the office. We quite often come across the bureaucrats and such 'nominated' office bearers who show their loyalty to the authorities who appointed them by breaking or misinterpreting the law.
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Sole proprietorship, partnership and company
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