In order to societies to reap the gains from trade, it is necessary to
A) define and enforce property rights.
B) foster economic growth.
C) achieve productive efficiency.
D) distribute resources equally.
Correct Answer:
Verified
Q387: The term "market" refers to
A) trading arrangements
Q388: Two social institutions that are essential for
Q389: If property rights are not clearly defined
Q390: Markets in which firms sell their output
Q391: In one day, Brandon can either plow
Q393: The rights of an owner to use
Q394: A system of property rights
A) reduces the
Q395: A computer software program is most strongly
Q396: Intellectual property
A) is protected by people's sense
Q397: Markets
A) facilitate trade.
B) coordinate price information between
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