Describe the components of transaction cost theory


1. Prepare code of ethics for the organization of your choice. For each point in code of ethics, explain ethical dilemma, which would be resolved using the code of ethics.

2. Describe the components of transaction cost theory and give example for each. The components are:

- Environmental Uncertainty and Bounded Rationality
- Opportunism and Small Numbers
- Risk and Specific Assets

3. Write factors find out the suitable authority and control structure in:

- a research and development laboratory
- a large department store
- a small manufacturing company.

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Business Management: Describe the components of transaction cost theory
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