Poorly Defined Property Rights Imply That _____

question 22

Multiple Choice

Poorly defined property rights imply that _____.

• A)people can play their music as loud as they would like
• B)profit opportunities exist for entrepreneurs
• C)a Pareto optimum is still easily achieved
• D)people may be able to use resources without paying for them

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Definitions:

Pluralist Theory

Refers to a theory in political science and sociology which suggests that power in a society is distributed among multiple groups and that this multiplicity ensures that no single group achieves dominance.

Elite Theory

A theory suggesting that societies are divided between a small ruling elite that holds power and the masses who are controlled by them.

Voter Turnout

The percentage of eligible voters who cast a ballot in an election, used to measure political engagement and participation.

Rich Democracy

A term describing democratic nations that possess a high level of economic wealth and standards of living.