Sanderson and Alderson Suggest That a Distinction Must Be Made

question 27

Multiple Choice

Sanderson and Alderson suggest that a distinction must be made between expropriation and partial redistribution because:

• A) landlords have considerably greater power than chiefs
• B) the flow of goods between peasants and lords is substantially more unequal
• Than the flow of valuables between chiefs and commoners
• C) both of these
• D) neither of these

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Definitions:

External Benefit

A benefit that people other than the consumer or producer enjoy, resulting from a transaction or activity.

Economic Efficiency

A condition in which all available resources are utilized in the most effective manner to satisfy society's needs and wants, minimizing waste and maximizing value.

Market Price

The current market value at which an asset or service is up for sale or purchase.

External Benefits

Positive effects experienced by those not directly involved in an economic transaction.