Identify and State the Historical Significance of the Following

question 79

Essay

Identify and state the historical significance of the following:
-Iran-Contra Affair

---

Definitions:

Principals

Individuals or entities that authorize agents to act on their behalf in business transactions.

Incentivizing Agents

Strategies to motivate individuals or entities acting on behalf of others or organizations towards desired behaviors or goals, often through rewards or benefits.

Agency Costs

Expenses and losses in value occurring when there is a conflict of interest between the principals (owners) and the agents (managers) of a company.

Longer Work Days

Extended periods of work hours in a single day beyond the standard working schedule.