Author Question: In any society, an effective system of property rights would not be possible without A) the ... (Read 83 times)

vicky · **on:** Jun 29, 2018

In any society, an effective system of property rights would not be possible without

A) the cooperation of other people.
B) the entire legal system to adjudicate them fairly.
C) the police to enforce them.
D) non-property (public rights).

Question 2

As more people in a country started hoarding grains in fear of a shortage, a shortage actually occurred. This is an example of a(n) ________.

A) positive externality
B) information cascade
C) moral hazard
D) adverse selection