Which of the following is true of private ownership?
a. Private ownership links responsibility with the right of control.
b. Private owners have little incentive to conserve natural resources for the future.
c. Private owners have little incentive to develop and use their assets in ways others value.
d. Private owners can do anything they want with the things they own regardless of the damage it does to the property of others.
A
You might also like to view...
If new firms enter a perfectly competitive industry, the market supply
A) does not change. B) becomes more price elastic. C) becomes more price inelastic. D) increases. E) decreases because each firm produces less than before the entry.
Refer to Figure 24-2. Ceteris paribus, a decrease in the price level would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
In which of the following market structures do you find barriers to entry?
A. a monopoly B. a perfectly competitive market C. a monopolistic competition D. Both a monopoly and a perfectly competitive market are correct
A pollution tax internalizes the costs of pollution a firm is imposing on others.
Answer the following statement true (T) or false (F)