Which of the following is not a problem with poorly defined property rights?
a. Insufficient incentive exists to produce resources that cannot be protected.
b. Resources will tend to be underutilized.
c. Individuals may be able to use resources without paying for them.
d. Little incentive to conserve on the use of poorly defined resources.
b
You might also like to view...
Monetary freedom refers to:
a. the ability to create and operate an enterprise easily. b. the absence of tariff and non-tariff barriers that affect imports of goods. c. the tax burden and overall tax revenue of the government. d. price stability with an assessment of price control. e. the free flow of foreign capital.
Amy can produce either 5,000 pounds of cheese or 20 cars per year. Mike can produce either 5,000 pounds of cheese or 10 cars per year. Amy's opportunity cost of producing one car is ________ pounds of cheese.
A. 1/250 B. 20 C. 250 D. 1/20