The Ability of an Individual to Own and Exercise Control

question 148

Multiple Choice

The ability of an individual to own and exercise control over scarce resources is called

• A)market failure.
• B)property rights.
• C)externality.
• D)market power.

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Definitions:

Personal Behaviors

These are actions or reactions of an individual, often in response to external stimuli or based on internal decision-making processes.

Religious Beliefs

The faith-based principles and convictions held by individuals or groups regarding spirituality and divinity.

Multiple-choice Question

A question format that offers several answers from which the respondent must choose the correct one.

Likert-type Question

A survey question format that uses a 5 or 7-point scale for respondents to express agreement or disagreement with a statement.