When Competition Is Present and Private Ownership Rights Are Clearly

question 106

Multiple Choice

When competition is present and private ownership rights are clearly defined and securely enforced by the legal system, business firms will have a strong incentive to

• A) innovate and develop better products and lower cost production methods.
• B) spend time attempting to plunder (take) the resources of others.
• C) engage in wasteful activities that increase the cost of producing goods and services.
• D) use resources during the current period rather than conserving them for the future.

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Definitions:

Vessel Diameter

The width of a blood vessel, which affects blood flow and pressure, and is regulated by various physiological mechanisms.

Resistance

In a broad sense, it refers to the opposition to flow or movement, such as electrical resistance in physics or the body's resistance to disease in biology.

Abdominal Aorta

The largest artery in the abdominal cavity that supplies blood to many of the abdominal and pelvic organs as well as the legs.

Unpaired Arteries

Arteries that do not have a matching artery on the opposite side of the body, often supplying blood to midline structures.