The Problems of Externalities and Poorly Formed Property Rights Are

question 45

Multiple Choice

The problems of externalities and poorly formed property rights are:

• A)minor in modern economies.
• B)among several rationales for the existence of government.
• C)better solved by private rather than government action.
• D)the only two legitimate reasons for creating government.

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Definitions:

Motor(s) Operating

Refers to the condition where one or more electric motors are in the process of working or running.

Switch Closed

A condition in an electrical circuit where the switch is in a position that allows current to flow through.

Preset

A predetermined setting or value that is programmed into a device, allowing it to perform a certain function automatically or under specific conditions.