Explain the connection between property rights and economic growth
What will be an ideal response?
Clear property rights provide property owners the incentives to invest in the future. With clear property rights, the property owner can reap the economic benefits from investing in the property. Without clear property rights, someone else could enjoy the benefits from this investment, and this possibility could significantly decrease the incentive to invest.
Economics
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A Lorenz curve graphs the difference between money income and market income
Indicate whether the statement is true or false
Economics
When the marginal revenue resulting from a decrease in price is negative, demand for the product is:
A) elastic. B) unit elastic. C) inelastic. D) cannot be determined without more information.
Economics