When Competition Is Present and Property Rights Protected and Enforced

question 120

Multiple Choice

When competition is present and property rights protected and enforced, market prices will

• A) discourage profit-seeking business firms from producing efficiently.
• B) direct entrepreneurs toward production of goods that are inferior in quality.
• C) encourage self-interested individuals to develop skills that are expected to be valuable in the future.
• D) always decrease.

---

Definitions:

Utility Computing

A computing model where computing resources are provided as a metered service similar to utilities such as electricity.

On-demand

A service or product that is available for use or download at any time, immediately responding to consumer requirements.

SaaS

Software as a Service is a software distribution model in which applications are hosted by a vendor or service provider and made available to customers over the internet.

On-demand CRM

Customer Relationship Management software hosted on the cloud, allowing businesses to access their CRM tools over the internet on a pay-per-use or subscription basis.