This topic contains a solution. Click here to go to the answer

Author Question: On which of the following assumptions is formal economic theory based? a. The value of a ... (Read 56 times)

HCHenry

  • Hero Member
  • *****
  • Posts: 591
On which of the following assumptions is formal economic theory based?
 
  a. The value of a particular commodity decreases as it becomes more scarce.
  b. Only occasionally do people maximize their material well-being.
  c. People, when exchanging goods and services, naturally strive to maximize material well-being and profits.
  d. Families will compete against each other to assert rights of ownership and allocation.
  e. In societies where there is formal market exchange (commercialism), the market will determine all economic activities of individuals.

Question 2

All of the following are potential limitations to personal property rights in the United States EXCEPT _____.
 
  a. right of eminent domain
  b. availability of resources
  c. zoning laws
  d. title and ownership of property
  e. foreign land ownership



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Pariscourtney

  • Sr. Member
  • ****
  • Posts: 352
Answer to Question 1

ANSWER:
c

Answer to Question 2

ANSWER:
e




HCHenry

  • Member
  • Posts: 591
Reply 2 on: Jul 10, 2018
Thanks for the timely response, appreciate it


sailorcrescent

  • Member
  • Posts: 334
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

For a complete list of videos, visit our video library