Absence of Enforcement of Contracts Would Encourage Economic Development, Because

question 146

True/False

Absence of enforcement of contracts would encourage economic development, because people would be more willing to incur risks if they did not have to worry about getting sued.

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Definitions:

External Attribution

The process of attributing one's own behavior or the behavior of others to external factors or situations.

Altruism

Behavior that is aimed at helping another, requires some self-sacrifice, and is not performed for personal gain.

Conformity

Changing or adopting a behavior or an attitude in an effort to be consistent with the social norms of a group or the expectations of other people.

Compliance

Acting in accordance with the direct requests of other people.