A reliable system of property rights and enforceable contracts are prerequisites for creating incentives that support a healthy market economy

Based on Scenario 1 above critically evaluate the following statement. "Because of the productivity differential between the two men we can conclude that the young man has a comparative advantage in the production of everything over the older man

What will be an ideal response?

Who won a Nobel Prize in economics for his work in the development of game theory?

A) John Nash B) Oskar Morgenstern C) Howard Schultz D) John von Neuman