Suppose Frank likes to snack on sugary candy. Frank knows that it's bad for his teeth to eat sugary candy, but he doesn't care. Frank's snacking habits have no impact on anyone other than Frank. In this case, Frank's consumption of sugary candy generates:

Extractive economic institutions are:

A) likely to prevent entrepreneurs with new ideas from entering into the right line of business. B) likely to encourage entrepreneurs with new ideas from entering into the right line of business. C) found only in market economies. D) found only in command economies.

How are the fundamental economic decisions determined in Canada?

A) These decisions are made by the country's elders who have had much experience in answering these questions. B) The United Nations decides because Canada is a developing economy. C) Individuals, firms, and the government interact in a market to make these economic decisions. D) The government decides because Canada is a centrally planned economy.