The Establishment and Recognition by Courts of Law of Individual

question 14

Multiple Choice

The establishment and recognition by courts of law of individual property rights

• A)made it more difficult for entrepreneurs to earn profits.
• B)has been shown to have little effect on technological development.
• C)did not occur until the twentieth century.
• D)enabled entrepreneurs to keep the profits they earned.
• E)enabled nobles and kings to confiscate profits.

Grasp the relationship between price changes and movements along or shifts of the demand and supply curves.

Comprehend the implications of changes in supply and demand on market equilibrium.

Understand the determinants of supply in the market.

Differentiate between movements along the supply curve and shifts in the supply curve.