An individual with a new idea for a product, such as someone who invents a new toy, will often take their idea to large manufacturers who have the wherewithal to produce and market their ideas. This barrier to entry is called _______________________.

For resources whose property rights are not well-defined or well-enforced,

A) people have an incentive to acquire as much of the resource as possible for themselves before someone else does. B) people have no incentive to acquire the resource since they do not have the property rights to that resource. C) people have little incentive to acquire the resource because if the the property rights are not well-defined or well-enforced, they are most likely of little value. D) people have an incentive to acquire a limited amount of that resource for personal use, but no more than they can use personally.

Why do some economists prefer government planning and financing of big-push development to private sector development? Because

a. private firms have a longer planning horizon than governments b. governments have a longer planning horizon than private firms c. private firms cannot collect taxes d. it takes less initial start-up capital than any alternative development strategy e. private firms create markets and government planning does not require market creation