Legl 2700 test 3 exam - Study guides, Class notes & Summaries

Role of Scarcity (property) - correct answer need for resources overtakes supply of those resources State controlled/communism - correct answer govt controls resources and directs how they're divided between citizens; control means of production Property-based/capitals - correct answer enact laws that enable citizens to acquire, possess, use, and transfer resources; free market States generally have a mix - correct answer not purely one or the other Real Property - correct answer lan...

LEGL 2700 Test 3 Epstein UGA Exam Actual Real Set Questions With Revised Correct Answers | Passed!! Role of Scarcity (property) - ANSWER : need for resources overtakes supply of those resources State controlled/communism - ANSWER : govt controls resources and directs how they're divided between citizens; control means of production Property-based/capitals - ANSWER : enact laws that enable citizens to acquire, possess, use, and transfer resources; free market States generally ...

LEGL 2700 Test 3 Epstein UGA Exam Questions And Correct Answers...

LEGL 2700 test 3 Epstein UGA Exam Questions Solved Role of Scarcity (property) - Answer -need for resources overtakes supply of those resources State controlled/communism - Answer -govt controls resources and directs how they're divided between citizens; control means of production Property-based/capitals - Answer -enact laws that enable citizens to acquire, possess, use, and transfer resources; free market States generally have a mix - Answer -not purely one or the other Real Pr...

LEGL 2700 Test 3 Epstein UGA Exam Actual Real Set Questions With Revised Correct Answers | Passed!! Role of Scarcity (property) - ANSWER : need for resources overtakes supply of those resources State controlled/communism - ANSWER : govt controls resources and directs how they're divided between citizens; control means of production Property-based/capitals - ANSWER : enact laws that enable citizens to acquire, possess, use, and transfer resources; free market States generally h...

LEGL 2700 TEST 3 Exam Actual Real Set Questions With Revised Correct Answers | Passed!! What is the Role of Scarcity in our economy? - Answer --the demand/need for resources is higher than their supply What is the role of property within a state controlled/communist government? - Answer - -almost all resources are controlled and allocated by the government -each citizen is required to produce according to their ability level and share according to the needs of others -shown to be less...

contract - correct answer -a legally enforceable promise or an exchange of promises Uniform Commercial Code (UCC) - correct answer --covers the sale of goods -goods are tangible, movable items of personal property -applies to individuals & firms -uniform state law -Article 2: applies to contracts -Section 207: "Battle of Forms" -> Deal still goes through bilateral contracts - correct answer --involve a promise for promise exchange ( mutual promises) -acceptance is before acti...

LEGL 2700 Test 3 Epstein UGA 2024 Exam Actual Real Set Questions With Revised Correct Answers | Passed!! state controlled/communism - Answer -the government controls all the resources property-based/capitalism - Answer -laws enable citizens to acquire, possess, and use resources private property - Answer -establishes necessary condition for capital formation real property - Answer -land, interests in land, buildings (surface, air, subsurface, fixtures) personal property - Answer -...

LEGL 2700 test 3 Epstein UGA Exam Questions With Correct Answers Role of Scarcity (property) - answerneed for resources overtakes supply of those resources State controlled/communism - answergovt controls resources and directs how they're divided between citizens; control means of production Property-based/capitals - answerenact laws that enable citizens to acquire, possess, use, and transfer resources; free market States generally have a mix - answernot purely one or the other Real P...