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A) by requiring property owners to pay property taxes
B) by providing police and courts
C) by allowing people to decide whether or not they wish to own property
D) by providing a system of recording property deeds
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A) Markets are usually a good way to organize economic activity.
B) Markets are usually inferior to central planning as a way to organize economic activity.
C) Markets fail and are therefore not a good way to organize economic activity.
D) Markets are a good way to organize economic activity in developed nations, but not in less developed nations.
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A) a furniture store in Kingston
B) a vineyard in the Okanagan Valley
C) a maple sugar candy store in Sherbrooke, Quebec
D) a hockey arena in the small town of Invermere, British Columbia
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a) Though Peter does not pay rent for li...View Answer
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A) laws
B) incentives
C) threats more than rewards
D) positives, but not negatives
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A) Studies show that individuals with higher levels of income purchase more environmentally friendly products than low-income individuals.
B) To pay for pollution cleanup, the government must increase taxes, which lowers income.
C) Laws that reduce pollution raise costs of production and reduce incomes.
D) By employing individuals to clean up pollution, employment and income both rise.
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A) South African firms are faced with stricter government regulations than Kenyan firms.
B) Total income is divided among fewer workers in Kenya since it has a smaller labour force than South Africa.
C) Kenya's climate allows for longer growing seasons and therefore Kenya can produce large quantities of grain.
D) Productivity in Kenya is higher than in South Africa.
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A) the dollar amount of obtaining it
B) the value of the resources needed to produce it
C) what you give up to obtain it
D) the amount of labour to produce it
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A) how people make decisions
B) how countries choose national leaders
C) how people interact with each other
D) how forces and trends affect the overall economy
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A) fewer pedestrian deaths
B) safer driving
C) an increase in the number of accidents
D) everyone now wears seat belts
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A) by government decisions
B) by giving each individual just enough for a decent standard of living
C) by the actions of all firms and consumers
D) by inherited rights and properties
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A) It increases unemployment in the short run.
B) It increases inflation in the long run.
C) It increases inflation in the short run.
D) It increases unemployment in the long run.
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A) increased significantly
B) decreased significantly
C) remained relatively constant
D) decreased slightly
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A) to promote efficiency
B) to enforce property rights
C) to promote equity
D) to protect an industry
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A) scarcity
B) poverty
C) change
D) power
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A) competition
B) market power
C) efficiency
D) productivity
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A) low consumer demand
B) government intervention and price controls
C) externalities and market power
D) high prices and foreign competition
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