Examlex

Solved

Which of the Following Terms Indicates the Tendency of Individuals

question 50

Multiple Choice

Which of the following terms indicates the tendency of individuals to spend less effort when working collectively?


Definitions:

Rent Ceiling

A form of price control where a maximum limit is placed on the rent that can be charged for housing.

Equilibrium Rent

The rental price at which the quantity of properties landlords are willing to lease equals the quantity that tenants are willing to rent.

Quota

A type of trade restriction that limits the quantity of a good that can be imported or exported during a specific time period.

Market

Any structure that allows buyers and sellers to exchange any type of goods, services, and information.

Related Questions