Which of the Following Is True

question 13

Multiple Choice

Which of the following is true?

• A)Successful firms have lower transaction costs than markets do
• B)A legal system that protects ownership rights is critical to the efficient functioning of firms and markets
• C)Markets measure and reward performance
• D)Markets allocate resources to their highest value use
• E)All of the above

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Definitions:

Contraries

Statements, ideas, or actions that are opposed to each other; in logic, two propositions are contraries if they cannot both be true but can both be false.

Negated

Made ineffective or invalidated; in logic, a proposition that denies or contradicts another proposition.

Raining

The process of precipitation in the form of water droplets falling from clouds in the atmosphere to the ground.

Not Raining

The condition of the weather where no precipitation is occurring.