A social system in which rights are clearly defined and ...

[fox]

A social system in which rights are clearly defined and participants are free to exchange as they choose will tend to allocate resources to
 
  A) their most efficient uses.
  B) their most highly valued uses.
  C) uses on which the highest monetary value is placed.
  D) uses which maximize social welfare.
  E) uses which produce the greatest good for the greatest member.

Question 2

A rent control is an example of a ________.
 
  A) price floor
  B) price ceiling
  C) negative externality
  D) positive externality

[Li Jun]

Answer to Question 1

C

Answer to Question 2

B

[fox]

YES! Correct, THANKS for helping me on my review

[zacnyjessica]

Thanks for the timely response, appreciate it