Discuss the Four Design Criteria That Should Be Inherent in Effective

question 33

Essay

Discuss the four design criteria that should be inherent in effective CBMs?

---

Definitions:

Maintenance Incentive

An encouragement or reward designed to prompt individuals or organizations to keep equipment or property in good condition.

Price Controls

Government-imposed limitations on the prices that can be charged for goods and services in a market, typically to curb inflation or ensure basic goods' affordability.

Opportunity Cost

The expense incurred by not choosing the next most favorable option when a decision is made or one possibility is selected over another.

Transaction Costs

The time, effort, and other resources needed to search out, negotiate, and complete an exchange.