In a World of Perfect Certainty,sharecropping Would Be Less Efficient

question 3

Multiple Choice

In a world of perfect certainty,sharecropping would be less efficient than a farm owner working his own farm because

• A)sharecroppers receive only half of their marginal product.
• B)paying a worker a wage gives him or her an incentive to shirk.
• C)sharecroppers are exploited by landlords.
• D)renting farmland concentrates risk on the renters.
• E)all of the above.

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Definitions:

Centration

A cognitive limitation in young children's thinking, marked by focusing on one aspect of a situation while neglecting others, characteristic of the preoperational stage.

Conservation Skills

Cognitive abilities that enable a child to understand that quantity or amount does not change when its form or appearance is altered, a concept developed by Jean Piaget.

Preoperational Thought

A stage in Piaget's theory of cognitive development where children (ages 2-7) begin to engage in symbolic play and struggle with logic and understanding others' perspectives.

Intuitive Reasoning

The process of making decisions on the basis of what feels right or what is instinctively believed to be true without logical reasoning.