Question

1. Wesley lives in a country with little protection under the law for conducting business or bringing his ideas about a revolutionary new car tire to the market with patent production. Because of the economic conditions what will Wesley most likely do?

A. Develop his tire and bring it to market with ease and minimal cost.

B. Keep his ideas in a notebook and sell them to the highest bidder.

C. Find a country where he can develop his tire idea and have it protected under strong patent laws.

2. Lack of property rights

A. encourage production.

B. increases productivity.

C. diminish economic growth.

Answer 1

Answer 1 - correct option is C

Reason - since wesley lives in a country with only little protection under the law for conducting business and bringing any ideas for revolutionary car tire with patent protection , if he develop his his tire and bring it in the market it may cause a huge loss for him in the future since his country do not have the patent protection and anyone can copy his idea for revolutionary news care tire hence he will find a country with strong patent protection law and then develop his ideas

Answer 2 - option C is correct

Reason - lack of property rights over use of resources likes depletion of natural resources due to which it will result in fall or diminish in economic growth