In your own words, describe what it means to have a conflict of interest. Give an example from your own experience or the experiences of a friend or family member. Does this situation include the informational asymmetry problems of moral hazard or adverse selection? If so, describe the situation using these terms. In this example, you can either be the principal (the person that could suffer from the conflict) or the agent (the party that might benefit from the conflict). Around 400 words.