Economies with Poorly Defined Property Rights Are Often Inefficient Because

question 92

Multiple Choice

Economies with poorly defined property rights are often inefficient because

• A)individuals spend time trying to protect their resources
• B)there are no voluntary exchanges
• C)all exchanges are voluntary
• D)there are no side payments
• E)of the absence of free riders

---

Definitions:

Evaluation

The systematic assessment of the value, importance, or quality of something, often for the purpose of making decisions or improvements.

Object Of Thought

The content or subject matter that is being considered or mentally represented by an individual.

Obedience

The act of following orders or directives from an authority figure or set of rules, often studied in psychology.

Innocent Stranger

A person who is not involved in a situation or event and has no knowledge or guilt regarding it.