The Basic Incentive Problem Is That Owners and Employees

question 26

Multiple Choice

The basic incentive problem is that owners and employees:

• A)are both concerned about sales maximization.
• B)have fundamentally different objectives.
• C)need government assistance to solve differences.
• D)generally operate in perfectly competitive markets.

---

Definitions:

Elk V. Wilkins

A U.S. Supreme Court case in 1884 which ruled that Native Americans who voluntarily left their tribes did not automatically gain citizenship, emphasizing the distinct legal status of indigenous peoples.

Supreme Court

The highest federal court in the United States, having ultimate appellate jurisdiction over all federal and state court cases that involve a point of federal law.

Citizenship

Membership in a nation or state, granting the individual certain rights and responsibilities under that entity's laws.

Liberty and Freedom

The condition of being free from oppressive restrictions imposed by authority on one's way of life, behavior, or political views.