The More Certain Private Property Rights Are

question 225

Multiple Choice

The more certain private property rights are

• A) the less people need to invest in education or human capital development.
• B) the less entrepreneurship there will be.
• C) the more capital accumulation there will be.
• D) the more an economy must grow to maintain a certain living standard.

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Definitions:

Irrevocable Offer

An offer that cannot be withdrawn or canceled by the offeror for a specified period, assuming the offeree has given some consideration in exchange for the offer's irrevocability.

Merchant

An individual or entity engaging in the selling of goods or services professionally or commercially.

UCC

Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States, intended to standardize and simplify the law.

Legal Sufficiency

The measure of whether a legal document or action meets the minimum requirements of the law to be enforceable.