Better Defined Property Rights Are Always Preferred to Less Defined

question 67

Multiple Choice

Better defined property rights are always preferred to less defined ones. The reason why property rights are not perfectly defined:

• A)is due to the presence of fairness issues.
• B)is the absence of transaction costs.
• C)is the result of an optimization process.
• D)is that a large share of voters are ideologically opposed to it.

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Definitions:

Pediculosis

An infestation of lice on the human body, characterized by itching and sometimes redness and infection.

Subcutaneous

Referring to something situated or applied under the skin.

Alopecia

A medical condition causing hair to fall out in small patches, which can lead to total hair loss.

Eczema

A medical condition where patches of skin become inflamed, itchy, red, cracked, and rough.