Read this https://dojmt.gov/wp-content/uploads/Glasswasherparts.com_.pdf sample breach letter “SAMPLE DATA BREACH NOTIFICATION” and describe how two different economics theories and two different social sciences theories relate to the letter.

This letter on data breaches relates to different economic theories and social science theories. One economic theory that relates to this letter is market failure theory because the data breach is an example of market failure as the security measures were not effective enough to protect consumers’ data. Another economic theory that relates to this letter is transaction cost theory as it focuses on the costs associated with economic exchanges, and the data breach involves a failure in managing the costs associated with protecting consumers’ data. A social science theory that relates to this letter is social contract theory as it focuses on individuals consent to certain rules in exchange for the benefits of participating in a community. They trust the company to protect their information, and this letter discusses a data breach that would damage that trust. This letter also relates to the symbolic interactionism theory as it focuses on how symbols influence interactions between individuals, and this letter is essentially a symbolic interaction between the company and its customers.