<span>The concept "meritocracy" refers to social stratification is based on personal merit.</span>
The correct answer is an institution helping to rectify a principal-agent problem
Principal-agent problem addresses the difficulties that can arise in conditions of asymmetric and incomplete information, when a principal hires an agent, such as the problem of potential conflict of interest and moral hazard, as the principal is presumably hiring the agent to pursue the principal's interests.
Various mechanisms can be used to try to align the interests of the agent with those of the principal, such as part payments, commissions, profit sharing, performance measurement (including financial statements), establishing an agent liaison or fear of dismissal.
Mass media is a very important tool in disseminating information to the public. It also plays a great role in shaping the opinions of the public by informing, educating and disseminating important truths to the people. They also present facts from both sides of the involving parties.
