The "Rules of the Game" Are the Set of Conditions

question 57

Multiple Choice

The "rules of the game" are the set of conditions that shape individual incentives and constraints.What determines the rules of the game?  

• A) scarcity 
• B) technology 
• C) the amount of consumer goods in the economy 
• D) the laws about resource ownership and the role of government

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Definitions:

Ticket Prices

The amount charged for admission to an event or access to a service.

Initial Value

The starting monetary or numerical value of an asset or investment before any gains, losses, or other changes.

Percent Change

A measure that denotes the degree of change over time, calculated by subtracting the original value from the new value, then dividing by the original value and multiplying by 100 to get a percentage.

Percent More

A relative increase from one value to another expressed as a percentage.