Behaviour in Free-Market Economies Is

question 23

Multiple Choice

Behaviour in free-market economies is

• A)determined by a central authority.
• B)based primarily on custom and habit.
• C)mostly directed by self-interest.
• D)mostly affected by elements of tradition and government command.
• E)random and unpredictable.

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Definitions:

Lease

In real property law, a contract by which the owner of real property, the landlord, grants to a person, the tenant, an exclusive right to use and possess the property, usually for a specified period of time, in return for rent or some other form of payment.

Eminent Domain

The right of a government to expropriate private property for public use, with compensation.

Zoning Rights

Legal regulations that determine how land within certain areas can be used, affecting building and development.

Community Property

A legal concept used in some states that dictates that property acquired by either spouse during the marriage is owned equally by both spouses.