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Figure 51.11
-The figure above represents the dynamics of
Ownership
The act, state, or right of possessing something.
Control
The exercise of authoritative or regulatory influence over something or someone to guide or manage operations and behaviors.
Moral Hazard
A situation in which one party is more likely to take risks because they do not bear the full consequences of their actions, often due to asymmetrical information or misaligned incentives.
Economic Inefficiency
A situation in which resources are not allocated optimally, leading to wastage or less than maximum output.
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