Imagine a World in Which Landlords Always Fix Problems Quickly

question 81

Multiple Choice

Imagine a world in which landlords always fix problems quickly, tenants never damage property and always pay their rent in a timely fashion. In such a world, lease agreements would ________.

• A)still exist to solve the commitment problem
• B)be unnecessary
• C)apply only to people with low monthly income
• D)only serve the interests of tenants

---

Definitions:

Trade Associations

Organizations founded and funded by businesses that operate in a specific industry, aimed at promoting their collective interests.

Commercial Banks

Commercial banks are financial institutions that offer a wide range of banking services to businesses and individuals, including deposit accounts, loans, and other financial products.

Accounting Firms

Professional service firms specializing in accounting, auditing, and financial advising for individuals and businesses.

Business Broker

A professional who assists in the buying and selling of businesses, acting as an intermediary between buyers and sellers.