In a world lacking property rights, it would be ________ to realize the gains from trade and there would be ________ specialization.
A) easier; less
B) easier; more
C) harder; less
D) harder; more

Question

Quizplus · Accepted Answer

In a world without property rights, it would be harder to realize the gains from trade because property rights secure ownership and facilitate exchanges by providing legal protection. Without them, there would be less incentive to specialize because individuals or firms would not be assured that they could trade the fruits of their specialization or even retain them.

In a World Lacking Property Rights, It Would Be ________