Under the Modern Traditional Theory of the Taking of Property,a

question 49

Multiple Choice

Under the modern traditional theory of the taking of property,a sovereign may take private property only where:

• A) The property is taken for a public purpose.
• B) The taking is nondiscriminatory.
• C) The taking is accompanied by a prompt, adequate, and effective compensation.
• D) All of the above.

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Definitions:

Inelastic Demand

A scenario where the product's demand remains largely unaffected despite variations in its price.

Licensing

A requirement that one obtain permission from the government in order to perform certain business activities or work in various occupations.

Essential Resource

A fundamental input or asset that is necessary for the production processes or for sustaining life and economic activities.

Taxi Cabs

Licensed vehicles for hire that provide passenger transport services for a fare, traditionally hailed on the street or booked in advance.