The core argument of the contract failure theory

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Reference no: EM131724909

The core argument of the contract failure theory is that:

Government is inefficient in providing public goods; therefore nonprofits step in to meet residual unsatisfied demand for public goods.

Information asymmetry between customers and service providers leads to the breakdown of ordinary contractual mechanisms; therefore nonprofits arise in situations in which consumers feel unable to accurately evaluate the quantity or quality of the service a firm produces for them.

Nonprofits are sponsored by governments because they are more trustworthy than for-profit organizations.

None of the above.

Reference no: EM131724909

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