The owners of private property will
What will be an ideal response?
use their property in ways that others value because the market will generally reward them
with profits (or a higher selling price) if they do so.
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Beth can paint 2 T-shirts in an hour while her brother can paint 1 T-shirt in an hour. However, her brother can paint 2 walls in an hour while she can paint only one. Who should specialize in which activity and why?
What will be an ideal response?
For the United States, U.S. direct foreign investment abroad is more significant than foreign investment in U.S. securities and currency
Indicate whether the statement is true or false
The Sherman Act and the Clayton Act were passed into law more than 100 years ago. What characteristic of each of these laws enables them to remain applicable in today's modern economy?
What will be an ideal response?
The market process is a
A) path to discovery. B) simple process. C) theoretical concept that reveals little useful information. D) none of these choices.