Which of the Following Terms Is Used to Refer to the Ability

question 64

Multiple Choice

Which of the following terms is used to refer to the ability of people to exercise authority over the resources they own?

• A)natural rights
• B)property rights
• C)input control
• D)collective control

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Definitions:

Goods Imports

The purchase of physical products from other countries to bring into one's own country.

Current Account

A component of a country's balance of payments that includes the trade balance, net primary income, and net secondary income.

Financial Account

Part of the balance of payments, it records transactions that involve the exchange of international ownership of assets.

Balance Surplus

A situation in which income or receipts exceed expenditures or outlays, often referring to a country's trade or fiscal balance.