According to Ronald Coase, for a Free-Market Economy to Work

question 17

Multiple Choice

According to Ronald Coase, for a free-market economy to work efficiently, there needs to be:

• A) allocation of private property rights with low transactions cost
• B) allocation of private property rights with high transactions cost
• C) a well developed tax code.
• D) low cost of malpractice insurance

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Definitions:

Safety Needs

A level in Maslow's hierarchy of needs that includes protection from elements, security, order, law, stability, and freedom from fear.

Biological Forces

The natural and genetic factors that influence human physiology, behavior, and health, including heredity, brain chemistry, and physical health.

Gender Discrimination

Unfair treatment or considerations based on an individual's sex or gender, often leading to inequality.

Feminist Viewpoint

is a perspective that emphasizes gender equality, critiques societal norms, and promotes the rights and empowerment of women.