Ownership of Personal Property Can Be Acquired Only by Purchase

question 58

True/False

Ownership of personal property can be acquired only by purchase.​

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Definitions:

Socially Optimal

A situation in which resources are allocated in the most efficient manner from the perspective of society as a whole.

Subsidize

Financial support extended by a government or organization to lower the production costs or price of goods and services, making them more accessible to the public.

Negative Externalities

Costs suffered by a third party as a result of an economic transaction, which are not reflected in the transaction's price.

Taxed

The act of imposing financial charges on individuals or entities by a governmental organization in order to fund public spending.