Which of the following reasons best explains why Julio mows his lawn, cleans up trash in his yard, paints his shutters, and does other maintenance projects on his house?

A. Scarcity
B. Opportunity cost
C. Property rights
D. Specialization and trade

Answer: C

Economics

You might also like to view...

In the long run, the output is determined by

A. demand-C,I,G,NX B. available factors of production - capital, labor, etc. C. interest rates D. quantity of money

Economics

Whenever there is strong heteroskedasticity, it is preferable to use OLS rather than WLS, which may use a possibly misspecified variance function

Answer the following statement true (T) or false (F)

Economics