Author Question: For social cooperation to be promoted, an effective system of property rights will be one in which ... (Read 70 times)

ahriuashd · **on:** Jun 29, 2018

For social cooperation to be promoted, an effective system of property rights will be one in which people

A) behave cautiously and considerately because their rights are not clear.
B) enjoy most rights in common with all other members of the society.
C) know exactly what their rights are and don't expect them to change significantly.
D) know their rights are always dependent upon continuing majority approval.
E) realize the rules of the game can change at any moment.

Question 2

A bilateral negotiation is a bargaining mechanism in which:

A) a third party or an authority intervenes and decides the prices of the products traded in a market.
B) a single seller and a single buyer confront one another with bids and asks.
C) multiple buyers bargain with a single seller to determine the trading price.
D) multiple sellers bargain with a single buyer to determine the trading price.