Private Markets Can Allocate Resources Optimally

question 42

Multiple Choice

Private markets can allocate resources optimally

• A)under all circumstances
• B)only if property rights are well defined and can be easily enforced
• C)whenever property rights are well defined, regardless of whether they can be easily enforced
• D)whenever property rights can be easily enforced, regardless of whether they are well defined
• E)whenever there is no government intervention in the market

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Definitions:

Zhou Jichang

A Chinese painter known for his contributions to the "Hundred Ramas" series, illustrating scenes from Buddhist lore with meticulous detail and vibrant colors.

Confucius

An influential Chinese philosopher and social thinker, living in the 5th century BCE, whose teachings focus on ethics, morality, and social relationships.

Bi Disk

A circular Chinese jade artifact, used in rituals and ceremonies, dating back to the Neolithic period.

Jade

A hard, typically green stone often used in jewelry and decorative arts, especially significant in East Asian and Mesoamerican cultures.