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 57 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
Excellent


rachel

  • Member
  • Posts: 323
Reply 3 on: Yesterday
Gracias!

 

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

For a complete list of videos, visit our video library