Continuing Inspite of Difficulties, Being Determined, and Overcoming Obstacles Are

question 72

Multiple Choice

Continuing inspite of difficulties, being determined, and overcoming obstacles are characteristics of a person who is ____.

• A) caring
• B) organized
• C) persistent
• D) knowledgeable
• E) honest

---

Definitions:

Asymmetric Information

A situation where one party in a transaction has more or better information than the other, leading to an imbalance in power and potentially unfair outcomes.

Hidden Action

A situation in which an agent's actions are not fully observable by the principal, potentially leading to moral hazard.

Moral Hazard

A situation where one party engages in risky behavior knowing that it is protected against the consequences, often due to an asymmetry of information or a misalignment of incentives.

Imperfectly Monitored

A situation where there is insufficient oversight or observation, often leading to non-compliance or deviation from expected standards.