When Property Rights Are Well Defined and Inexpensive to Enforce,________

question 64

Multiple Choice

When property rights are well defined and inexpensive to enforce,________.

• A)collateral is an efficient solution to asymmetric information problems
• B)little or no collateral is needed to secure a loan
• C)banks become less dominant among intermediaries
• D)poor borrowers are at no disadvantage relative to wealthy borrowers

---

Definitions:

Perception

The process of organizing, interpreting, and consciously experiencing the information from the environment through the senses.

Culture

The shared values, customs, art, and beliefs of a group of people, shaping their behavior and interactions.

Traditions

Customs, beliefs, or practices passed down through generations within a culture or community.

Character Strengths

Positive personality traits or qualities that are considered to be morally beneficial and contribute to individual fulfillment.