Without Property Rights

question 125

Multiple Choice

Without property rights,

• A)people would have more of an incentive to specialize, and the economy would become more efficient.
• B)there would be more inventions.
• C)people would not have an incentive to specialize.
• D)a market economy would become more efficient.
• E)people would have more of an incentive to specialize.

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Definitions:

Minimizes Inventory

Strategies or practices aimed at keeping the amount of goods stored by a business as low as possible to reduce costs and increase efficiency.

Supply Chain Management

The administration of the movement of products and services encompassing every process that turns raw materials into finished goods.

Purchasing

The process of obtaining goods or services, typically for business purposes, by paying a price or agreeing to a contract.

Transportation

The action of moving people or goods from one location to another using various modes such as by road, rail, air, or sea.