If a Government Employee Agrees to Award a Contract to a Vendor

question 16

True/False

If a government employee agrees to award a contract to a vendor in exchange for a promise of future employment, this is considered to be an illegal gratuity.

Recognize personal and situational factors that influence an individual's likelihood to conform in group settings.

Understand the concept of social dominance theory and its implications for intergroup relations.

Identify and explain the sources of intergroup conflict and how each source contributes to conflict emergence.

Understand the demographic and socio-economic characteristics of different ethnic groups in the United States and their implications for marketing.

---

Definitions:

Perfect Information

A situation in which all participants have access to all relevant information in a market or decision-making situation.

Prior Probabilities

The probabilities of possible outcomes based on existing knowledge before the arrival of new evidence.

Perfect Information

A state in which all participants in an economic market have complete and instantaneous knowledge of all market aspects that affect their transactions.

Expected Opportunity Loss

The potential loss in value for not choosing the best course of action in decision-making under uncertainty.