Which of the following is true of private ownership?
a. Private ownership links responsibility with the right of control.
b. Private owners have little incentive to conserve natural resources for the future.
c. Private owners have little incentive to develop and use their assets in ways others value.
d. Private owners can do anything they want with the things they own regardless of the damage it does to the property of others.
A
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Refer to Figure 3-6. The figure above represents the market for canvas tote bags. Assume that the price of tote bags is $15. At this price
A) there is a shortage equal to 55 tote bags; the price of tote bags will rise until demand is equal to supply. B) the demand exceeds the supply of tote bags by 55. Some consumers will have an incentive to offer to buy tote bags at a higher price. C) the quantity demanded exceeds the quantity supplied by 75. The price will eventually rise to $25 where quantity demanded will equal quantity supplied. D) there is a shortage, equal to 55 tote bags, that will be eliminated when the price rises to $25.
When a person buys stock in a company, that person is buying ________, but when a person buys a bond in a company, that person is ________ the company
A) ownership; borrowing funds from B) ownership; lending funds to C) debt; lending funds to D) debt; borrowing funds from