Bribery involves transactions costs because both parties must conceal the payments and take measures to justify the selection.

Name: Bribery involves transactions costs because both parties must conceal the payments and take measures to justify the selection.
Brand: Quizplus
Rating: 4.8 (54 reviews)

Question

Quizplus · Accepted Answer

Bribery involves illegal and unethical practices, thus both parties involved have to incur additional costs to keep the transaction hidden and justified. Such costs are known as transaction costs.

Bribery Involves Transactions Costs Because Both Parties Must Conceal the Payments