The two basic ways of coordinating
economic activity in an industrial economy are
central regulation and the market.
supply and demand.
technology and the law.
costs and benefits.
argue that private
developed as a way to coordinate
developed as a way of solidifying
unequal class relations.
institutionalized the exploitation of
one social class by another.
exists because humans have an instinct to own
Governments restrict the number of wild
animals that people can kill. From the economic point of
view, this restriction is:
a way of overcoming the problem of the commons.
an unwarranted restriction of human
necessary because animals are
necessary only in market economies but
not in socialist economies, which follow different