Liability rules, property rights, contract enforcement, and standards for weights and measures affect the for people to produce and exchange goods and services.

royalties
exchange rates
incentives

Choose the best term for each definitionexpense, liability, monetary asset, statement of financial position, tangible asset, net worth, market value, investment asset, income, assetitems of monetary value a person or household ownsmoney spentmoney receivedfinancial assets purchased with the hope that they will generate income and appreciate in value to make it possible to sell at a higher price in the futurea debt or obligation owed to othersthe amount you could realistically sell an asset forassets that can be quickly and easily converted into casha measure of financial wealth and indicates the monetary value of all possessions that a person or household owns, minus the total amounts owed to othersa financial statement that describes an individual or family's financial condition on a specified date by showing assets, liabilities, and net worthpersonal property that was purchased to create a lifestyle or improve your life

How does your household gain from specialization and comparative advantage? (what is produced, what is not produced yet paid to a specialist to produce? )

Karen is working on classifying all her company’s products in terms of whether they have strong or weak market share and whether this share is in a slow or growing market. what type of strategic framework is she using?