Examlex
Which of these statements BEST describes the purpose of testing in a nursing program?
Post-contractual Problem
Issues or disputes that arise after a contract has been signed and during its execution period.
Agency Costs
Costs incurred in principal–agent relationships; these costs are associated with moral hazard and adverse selection problems.
Adverse Selection
A situation in economics and insurance where the party on one side of the deal has more information than the party on the other side, leading to an imbalance and potentially unfair outcomes.
Moral Hazard
The risk that one party to an agreement will engage in behavior that is undesirable from the other party's perspective because it does not bear the full consequences of its actions.
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