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In What Ways Do the Teachings of Confucius Pertain to Society

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Essay

In what ways do the teachings of Confucius pertain to society at large as well as to individual lives?


Definitions:

Cartels

Formal agreements among competing firms to control prices or output in a particular market, often to monopolize a market.

Auctions

A sales event where goods or services are sold to the highest bidder in a competitive process.

Bid-rigging

A form of fraud where competing parties conspire to determine the winner of a bidding process, undermining fairness.

Vickery Auctions

An auction format where the highest bidder wins but pays the second-highest bid, encouraging true value bidding.

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