When Private Ownership of a Resource Is Clearly Defined and Enforced

question 89

Multiple Choice

When private ownership of a resource is clearly defined and enforced, the private owner

• A) has a strong incentive to consider the wishes of others when deciding how to employ the resource.
• B) has little incentive to use the resource wisely.
• C) has a strong incentive to consume the resource during the period rather than conserving it for the future.
• D) has little incentive to consider the wishes of others when deciding how to employ the resource.

Understand the components and purposes of finance charges in consumer credit.

Know the necessary information and procedures involved in filing for Chapter 7 bankruptcy.

Identify national non-profit organizations that assist with debt problems.

Recognize the need for formal agreements in loans to or from family members and the importance of detailed terms.

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Definitions:

Upper Limit

The maximum allowable value or level in a given context, beyond which operation is either not recommended or not possible.

Sequencer Instruction

A programming command used within PLC programming to execute a series of instructions in a predefined order.

Binary Information

Data represented in a binary format, consisting of two possible values, often signified as 0 and 1.