Consider the following scenario: The Kellogg's facility buys corn and makes boxes of cornflakes. The grocer buys the boxes and places them on the shelf. A mother then buys a box for her family.
Which of the following would be classified as a purchase of a final good? A) The cornflakes purchased by the mother
B) The cornflakes purchased by the grocer
C) The corn purchased by Kellogg's
D) All of the above.
E) None of the above.
Question 2
An ordinance making it illegal for people to park commercial vehicles on the street overnight in residential areas
A) protects property rights.
B) takes away property rights.
C) protects some property rights and takes away others.
D) has nothing to do with property rights.
E) reduces negative externalities for residents of affected areas.
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