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Zhing is thinking of reorganizing his department so that Farah and Seb do not have to work together,as they don't get along.Whenever they have a disagreement about a task,it always seems to degenerate into emotional attacks against each other.This is known as process conflict.
Government Intervention
Actions taken by a government to affect the economy, which can include regulation, subsidies, tariffs, and other mechanisms.
Externalities
Economic side effects or consequences of an industrial or commercial activity that affect other parties without being reflected in the costs of the goods or services involved.
Coase Theorem
A principle that asserts if property rights are clearly defined and transaction costs are low, private negotiations will lead to the efficient resolution of disputes over the allocation of resources.
Transaction Costs
The costs that parties incur during the process of agreeing to and following through on a bargain.
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