When Private Ownership Rights Are Well-Defined and Enforced, Owners

question 121

Multiple Choice

When private ownership rights are well-defined and enforced, owners

• A) can ignore the wishes of others, without bearing the cost.
• B) have little incentive to take care of things.
• C) can do anything they want with their property.
• D) can be held accountable for damage to others through misuse of their property.

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Definitions:

Developing Countries

Nations with a lower living standard, undeveloped industrial base, and low Human Development Index (HDI) relative to other countries.

Skilled Workers

Individuals who have specialized training or expertise in a particular job or industry, often requiring formal education or apprenticeship.

Foreign Aid

Financial or in-kind assistance given by one country to another, often for developmental projects, humanitarian aid, or economic stabilization.

World Bank

A global financial intermediary that provides financial assistance and grants to the governments of developing nations with the aim of pursuing capital project investments.