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:

Economic Rewards

Financial or material incentives used to motivate or reward individuals for their performance or behavior, commonly employed in work and education settings.

Autocratic Conditions

Environments or situations where control and decision-making are centralized in the hands of a single authority, often leading to a lack of input or freedom for others.

Obedience

The act of following orders, rules, or requests from someone in authority, demonstrating compliance and submission.

Theory X

A management theory suggesting that employees are inherently lazy and will avoid work if they can, hence need to be closely supervised and have a structured work environment.