Examlex

Solved

Mechanisms Producing Aggression Should Lie Dormant Unless ____________

question 2

Multiple Choice

Mechanisms producing aggression should lie dormant unless ____________.


Definitions:

Contestable Market

A market in which the costs of entry and exit are low, so a firm risks little by entering. Efficient production and zero economic profits should prevail in a contestable market.

Economic Profits

Profits earned by a firm after accounting for both its explicit and implicit costs, including opportunity costs.

Property Rights

The legal rights to use, control, and derive benefits from a resource, good, or property.

Natural Resources

Materials or substances occurring in nature which can be exploited for economic gain, such as minerals, forests, water, and fertile land.

Related Questions