Markets Can Function Efficiently Only When the Private Property Rights

question 28

True/False

Markets can function efficiently only when the private property rights are completely suspended and every resource in the economy is a commonly owned resource.

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Definitions:

Units-of-production Method

a depreciation technique that allocates the cost of an asset over its useful life based on the number of units it produces.

Straight-line Method

A method of calculating depreciation of an asset, which spreads the cost evenly over its useful life.

Depreciation Expense

An accounting method that allocates the cost of a tangible asset over its useful life.