Describe What Is Meant by the Term "Legitimate" When Discussing

question 26

Essay

Describe what is meant by the term "legitimate" when discussing the use of power.

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Definitions:

Compromise Policy

A strategy aimed at finding a middle ground among different stakeholders' interests or policy alternatives.

Dividend Policy

A company's strategy or set of guidelines for distributing earnings to shareholders in the form of dividends.

Taxes

Taxes refer to the compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Transaction Costs

Expenses incurred when buying or selling a good or service, including broker's fees, taxes, or costs related to the time and labor involved in making the transaction.