Asked by Holly Bienias on Jun 14, 2024
Verified
Related to the Economic in Practice on p. 710: As corruption falls in a country, cost of production usually rises.
Corruption
Dishonest or fraudulent conduct by those in power, typically involving bribery.
Cost of Production
The total expense incurred in manufacturing a product or offering a service, including materials, labor, and overhead costs.
- Assess the effects of corruption on production costs and economic efficiency.
Verified Answer
ZK
Zybrea KnightJun 20, 2024
Final Answer :
False
Explanation :
As corruption falls in a country, the cost of production usually decreases because businesses face fewer bribes and obstacles, leading to more efficient operations and potentially lower costs.
Learning Objectives
- Assess the effects of corruption on production costs and economic efficiency.