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Which of the following statements is true? Group of answer choices Property rights extend to intellectual property through patents, copyrights, and trademarks. Self-interest is one
Which of the following statements is true? Group of answer choices
Property rights extend to intellectual property through patents, copyrights, and trademarks.
Self-interest is one of the driving forces in a market system. Firms try to maximize profits, and consumers try to maximize utility (a measure of satisfaction). As they try to pursue their own self-interest, the economy benefits (if competition is present).
Competition requires one or more independently acting buyers and sellers. Competition decentralizes economic power.
All of the above.
Only a) and b)
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