What incentive is created by a first-come first-serve allocation scheme?
A) To engage in rent-seeking.
B) To have the most income.
C) To be first.
D) To be elected.
Correct Answer:
Verified
Q5: Property rights
A)only need to be found in
Q6: Property rights need to be secure
A)to promote
Q7: The cost of a choice is
A)the price
Q8: Buying a product in one market and
Q11: People trade because
A)they are able to take
Q12: Trade is promoted by
A)having a self-interested population.
B)proper
Q14: Allocation schemes can be based on
A)prices.
B)randomness.
C)government decisions.
D)all
Q15: The fundamental economic problem faced by individuals
Q17: Prior to 1840, most businesses were
A)family-owned.
B)corporate in
Q20: Without contracts, what type of transactions would
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