In a Market System, Private Ownership of Land Does Not

question 288

Multiple Choice

In a market system, private ownership of land does not lead to which of the following results?

• A)Private owners will face no cost in using land for one purpose rather than another.
• B)Land rent reflects the opportunity cost of land.
• C)Land is allocated to its best possible uses.
• D)Private land ownership aids economic growth because land rents reflect changes in tastes and technologies.

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Definitions:

Socialist Cause

A movement or effort dedicated to promoting socialism, which advocates for public or collective ownership and administration of the means of production and distribution of goods.

Mass Consumption

The widespread purchase and use of goods and services by a large portion of the population, often associated with developed economies and the rise of consumer culture.

Department Stores

Large retail establishments that offer a wide variety of goods in different departments under one roof, representing an essential aspect of consumer culture.

Mass Consumption

Describes a period or society where the widespread purchasing of goods and services is characteristic, often associated with the rise of consumer culture.