ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When the government spends too much money on healthcare
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When people use public funds for private gain
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When government funds are spent inefficiently
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When people use private funds for public gain
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Detailed explanation-1: -Corruption is a form of dishonesty or a criminal offense which is undertaken by a person or an organization which is entrusted in a position of authority, in order to acquire illicit benefits or abuse power for one’s personal gain.
Detailed explanation-2: -Public corruption involves a public official (whether domestic or foreign) as one party to the corrupt act, whereas private corruption involves only individuals in the private sector (which is why it is sometimes called “private-to-private corruption”).
Detailed explanation-3: -Public corruption involves a breach of public trust and/or abuse of position by federal, state, or local officials and their private sector accomplices.
Detailed explanation-4: -The most common types or categories of corruption are supply versus demand corruption, grand versus petty corruption, conventional versus unconventional corruption and public versus private corruption.