Which of the following is true regarding private ownership?
a. Relative to common ownership, private ownership generally leads to less conservation of resources.
b. With private ownership, owners are held accountable for using their resources in a manner that harms the resources of others.
c. Private ownership generally gives the owner little incentive to find ways to use the resource wisely.
d. With private ownership, resource owners have little incentive to consider the preferences of others when deciding how to employ a resource.
B
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Which of the following markets is most likely to be oligopolistic?
A) The market for corn B) The market for aluminum C) The market for colas D) The market for ground coffees
A speculator in foreign exchange is a person who
a. buys foreign currency, hoping to profit by selling it at a higher exchange rate at some later date b. earns illegal profit by manipulating foreign exchange c. causes differences in exchange rates in different geographic markets d. simultaneously buys large amounts of a currency in one market and sells it in another market e. takes no risks in foreign currency exchanges