A Conflict of Interest Occurs When an Employee, Manager, or Executive

question 29

True/False

A conflict of interest occurs when an employee, manager, or executive has an economic or personal interest in a transaction that adversely affects the organization.

---

Definitions:

Price

Price is the amount of money expected, required, or given in payment for something, playing a central role in the economics of market transactions.

Good

An item or product that can be bought, sold, or traded, contributing to an economy's wealth or resources.

Monopsonist

A market condition in which there is only one buyer for a product or service, giving the buyer substantial power over prices.

Maximizing Profit

The process or strategy implemented by a company to ensure that they achieve the highest possible financial gain from their operations, taking into account both revenue and costs.