If Property Rights Are NOT Clearly Defined and Enforced, Then

question 254

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.

Recognize factors that increase the risk of infections.

Understand the role of normal flora in human health and disease prevention.

Understand various managerial development techniques and their purposes.

Identify the benefits of practicing skills during and after training.

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Definitions:

Equity

The value of an ownership interest in property or a business, after deducting liabilities from assets.

Return on Sales Ratio

A financial ratio that measures the efficiency of a company in generating operating profit from its revenue.

Net Sales

The revenue a company earns from sales after subtracting the costs of returns, allowances for any damaged or missing items, and discounts.

Net Income Before Taxes

The total earnings of a company before taxes have been deducted.