Answer:B. if transaction costs are low, private bargaining will result in an efficient solution to the problem of externalities.
Explanation:
The coarse theorem:
If there is a conflict between parties this will lead to an effecient results irrespective of who won the right to the property as long as the transaction cost related to the price negotiation is insignificant.
Answer: Culture
Explanation:
Culture is the refers to the set of values, attitude and the ideas that are shared among the team members and the word culture is derived from the french word which means cultivation and the earth.
According to the given question, the culture is the defined as the knowledge for the specific religion or the group in the society. When we used to share the traditions, expectations and the beliefs withing the specific society or a group.
There are basically two types of culture that are as follows:
- Material culture
- Non-material culture
Therefore, Culture is the correct answer.
when individuals use all available information about an economic variable to make a decision, expectations are -rational
What is economic variable?
An economic variable is any measurement that helps to consider how an economy may function . for instance population, poverty rate, inflation, and available resources.
What are the five economic variables?
There are 5 common economic variable that are considered :
output, gross domestic product ( GDP ), production, income, and expenditures.
What factors cause economic growth?
Basically , there are two main cause of economic growth: growth in the size of the workforce and growth in the production activity (output per hour worked) of that workforce.
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Answer:
de-industrialization
Explanation:
Deindustrialization refers to the phase of social and economic event caused by the elimination or decrease of industrial base or operation in a region or country, in particular of manufacturing industries or mining. It's the reverse of being industrialised.
It is the opposite of industrialization. Deindustrialization usually happens as it is no longer profitable for a specific industrial activity. It's a phase in which industrial development is eliminated or decreased in a country or area due to a major social or economic transition.
The correct answer would be option C.
Allowing employees to pray during work time.
Explanation:
Non penalized religious observance means, If someone practice his or her religion during the work hours, as it is compulsory in his/her religion to do so, at the place where he works.
So companies allow employees to pray during work hours which will be a non penalized religious observance for the employees.
For example, If there is a Muslim who works in an organization which is owned by the people of other religion, and if he offers his prayers during his work hours, then the company will respect his offerings and won't charge or penalize him on the observance of his religion during the office timings.
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