An Agency That Occurs When a Principal and an Agent

question 36

Multiple Choice

An agency that occurs when a principal and an agent categorically agree to enter into an agency agreement with each other is known as a(n) ________.

• A) agency by ratification
• B) implied agency
• C) apparent agency
• D) express agency

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Definitions:

Preconventional Reasoning

The lowest level in Kohlberg’s theory. At this level, morality is often focused on reward and punishment. The two stages in preconventional reasoning are punishment and obedience orientation (stage 1) and individualism, instrumental purpose, and exchange (stage 2).

Individualism

A theory in society that prioritizes individual freedom over the control of groups or governmental authority.

Piaget's Methods

Techniques used by Jean Piaget, including naturalistic observation and clinical interviews, to study cognitive development in children.

Moral Development

The process by which individuals learn to distinguish right from wrong and to develop attitudes and behaviors that are socially acceptable.