The Ability of an Individual to Own and Exercise Control

question 148

Multiple Choice

The ability of an individual to own and exercise control over scarce resources is called

• A)market failure.
• B)property rights.
• C)externality.
• D)market power.

---

Definitions:

Legally Intoxicated

A legal definition regarding the level of alcohol or drugs in one's system that impairs abilities to drive or operate machinery safely as defined by law.

Alcohol

Any beverage containing ethyl alcohol, including beer, wine, and liquor.

Judgment

The cognitive process of forming an opinion or evaluation by discerning and comparing.

Inhibitions

Psychological restraints or barriers that hinder a person from expressing thoughts, feelings, or behaviors in a freely expressive manner.