Voting and doing your civic duty to stay informed and involved.
The Coase Theorem says that, in an economic transaction with externalities, if property rights are well defined and if the transaction costs are low enough, then the private solution is socially optimal, with no need for government intervention to correct the situation externality, which is a market failure. The government's only role would be to ensure that property rights are well defined and that free trade flows without transaction costs.
Coase's theorem, shows how the role of institutions, especially legal ones, are important for the proper functioning of the market economy.
Answer:
country government -
issue auto tags
maintain roads and highways
administer state programs
oversee local elections
city government -
provide fire protection
provide police protection
operate water treatment facilities
collect and dispose of garbage
Explanation:
A city level authority deals with the issues with in the administrative boundary of a small city. For example the city authority of New York will be responsible for all the activities going with in its city. It shall have no concern for other cities.
A country government plans and execute programs or operations that are for the betterment of all with in a country irrespective to the cities they belong.
Hence, following services are provided by the country government -
issue auto tags
maintain roads and highways
administer state programs
oversee local elections
Following services are provided by the city government -
provide fire protection
provide police protection
operate water treatment facilities
collect and dispose of garbage
Answer:
<u>Norms provide members with cues about how to behave.</u>
Explanation:
<u>Norms: </u>IN psychology, the term "norm" is referred to as unwritten yet understood limitations or rules of a particular culture or society for the different behaviors that are being considered as expected and acceptable.
<u>Norms </u>are considered as fundamental concepts in the area of "social science". Norms can either be prescriptive (to encourage positive behavior) or proscriptive (to encourage negative behavior).
<u>In the question above, the given statement signifies "Norms provide members with cues about how to behave".</u>
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