Property rights have a positive effect in a market economy because they encourage owners to maintain their property.

The development of a new good or a new process for making a good is called

A) an innovation. B) a service. C) a factor of production. D) an invention.

If, during the negotiations between the union and the management a strike occurs, it would be because

a. The union is trying to convince the management that it will stick to its strategy b. The management doesn't believe the union's threat c. All of the above d. None of the above