If Property Rights Are Not Clearly Defined and Enforced, Then

question 317

Multiple Choice

If property rights are not clearly defined and enforced, then

• A) incentives for specialization based on comparative advantage are weakened.
• B) some potential gains from specialization and trade are lost.
• C) resources are devoted to protecting possessions rather than to production.
• D) All of the above answers are correct.

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Definitions:

Peripheral Nervous System

The part of the nervous system that consists of the nerves and ganglia outside of the brain and spinal cord, involved in connecting the CNS to limbs and organs.

Neurons

Cells within the nervous system that transmit information to other nerve cells, muscle, or gland cells.

Parasympathetic Nervous System

A division of the autonomic nervous system responsible for conserving energy and slowing down the body's responses.

Mobilizes

To prepare and organize (groups, resources, etc.) for a purpose or action, especially in a context of urgency or conflict.