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

question 235

Multiple Choice

When private ownership rights are well-defined and enforced, owners of physical assets and resources

• A) have no incentive to consider the desires of others.
• B) incur the opportunity cost of ignoring the wishes of others.
• C) are not responsible if the use of their assets impose harm on others.
• D) have little incentive to take care of their assets.

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Definitions:

Identity

The understanding or concept of oneself as a unique individual, including aspects of self-concept and social identity.

Erikson

Erik Erikson, a developmental psychologist known for his theory on the psychosocial development of humans, emphasizing the impact of social interaction across the lifespan.

Neo-Freudian

Psychologists who accepted the basic foundations of Freud's theory but modified it to include social and cultural factors.

Karen Horney

A German psychoanalyst known for her theories on neurosis, feminine psychology, and the importance of cultural and social factors in personality development.