When an Economic System Changes from Using a Collective Property

question 205

Multiple Choice

When an economic system changes from using a collective property rights system to something closer to private property rights,the immediate effect is:

• A) less efficient organization of resources.
• B) to increase regulation,resulting in less market activities.
• C) to decrease investment,work effort,and productivity.
• D) to increase investment,work effort,and productivity.

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Definitions:

Early Adopters

A group within a consumer base that is among the first to acquire and use a new product or technology, often influencing others.

Diffusion of Innovation

The process by which a new idea, product, or practice spreads within a society or from one society to another, often influenced by factors like social networks and communication.

Product Adopters

Individuals or entities that purchase or use new products soon after they are launched, often categorized into groups based on adoption timing.

Innovators

Individuals or organizations that are first to explore and adopt new technologies, processes, or practices before they become mainstream.