A Key Contribution of Ronald Coase Is That He Pointed

question 42

Multiple Choice

A key contribution of Ronald Coase is that he pointed out that private transactions are efficient when the number of parties involved is small

• A) and that property rights are irrelevant to the existence of externalities.
• B) and when corporations are not greedy.
• C) and when property rights do not exist.
• D) and when property rights are well- defined and transactions costs are low.

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Definitions:

Precontemplation

A stage in the Transtheoretical Model of Behavior Change where the individual is not yet considering change or unaware of the need to change.

Action

The process of doing something in order to achieve a specific goal or result.

Stages of Change

A concept in psychology that maps out the phases individuals go through as they modify behavior, ranging from precontemplation to maintenance.

Transtheoretical Model

A theory of behavior change that assesses an individual's readiness to act on a new healthier behavior, and provides strategies, or processes of change to guide the individual.