Could you please help me solve these questions

The following questions relate to the relationships between owners, managers, and employees in large firms.

Discuss the key differences between a contract for a product sold in a market and a contract for labour.

Define the term 'asymmetric information'. Explain how the presence of asymmetric information in firms may impact the working relationship between managers and subordinates.

Explain why contracts between a firm and its employees are often incomplete.

Discuss two possible ways a firm could try and reduce the issues associated with incomplete employee contracts.

What are the possible downsides or difficulties associated with each of these methods?