When Government Defines and Enforces Property Rights, This Is an Example

question 75

Multiple Choice

When government defines and enforces property rights, this is an example of government as

• A)referee.
• B)regulator of business.
• C)buyer of goods and services.
• D)tax collector.
• E)redistributor.

---

Definitions:

Satisfaction

The feeling of pleasure or fulfillment that comes from achieving a goal or satisfying a need.

Marginal Utility

The increase in satisfaction or utility derived from the consumption of an additional unit of a good or service.

Utility-Maximizing

A theoretical concept in economics that individuals or firms seek to achieve the greatest satisfaction or profit from their actions, subject to their resources.

Price

The amount of money expected, required, or given in payment for something.