The Absence of a Legal System That Protects Property Rights

question 103

Multiple Choice

The absence of a legal system that protects property rights and the machinery to enforce that system usually results in:

• A)the raising of barriers to foreign direct investment and international trade.
• B)a collectivist approach to business and commerce.
• C)a reduction in the incentive to engage in productive economic activity.
• D)deregulation and privatization of the economy.

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Definitions:

Assignable Causes

Factors in a production process that can be identified and eliminated, known for causing variations in statistical process control.

Mean Charts

Graphical representations used in statistical process control that plot the mean values of a series of measurements over time.

Range Charts

Tools used in statistical process control that display the range of variability in a process over time.

Process Dispersion

The variability or spread in the process output, often resulting from differences in materials, equipment, or operating conditions.