Question

Which example is a barrier to human capital?(1 point)
Responses

A student earning high enough grades, but being unable to afford college.
A student earning high enough grades, but being unable to afford college.

A student forgot their charger, so their computer is dead during study hall.
A student forgot their charger, so their computer is dead during study hall.

A new shop is unable to import the necessary resources from another country to create their product.
A new shop is unable to import the necessary resources from another country to create their product.

A wood chipper being broken in a lumber mill causing the lumberjack to have to do it by hand.
Answer
Which of the following is an example of a barriers to entry that an entrepreneur could face?(1 point)
Responses

obtaining proper licensing to start the business
obtaining proper licensing to start the business

a past failed business by the entrepreneur
a past failed business by the entrepreneur

a possible economic downturn in the future
a possible economic downturn in the future

the entrepreneur already owning another business
Answer
Which of the following would not be covered under property rights?(1 point)
Responses

a company's cell phone tower
a company's cell phone tower

a shark in the Atlantic Ocean
a shark in the Atlantic Ocean

a person's pet dog
a person's pet dog

a person's patented invention
Answer
Which of the following is a situation with asymmetric information?(1 point)
Responses

Before purchasing health insurance, the buyer is required to provide his or her medical history.
Before purchasing health insurance, the buyer is required to provide his or her medical history.

A store clerk sells a brand-name item, knowing that the generic product is cheaper and just as effective.
A store clerk sells a brand-name item, knowing that the generic product is cheaper and just as effective.

An independent contractor reviews the structural integrity of a house before it is sold.
An independent contractor reviews the structural integrity of a house before it is sold.

The buyer and the seller of a used car do not know that the brakes have been replaced in the past.
The buyer and the seller of a used car do not know that the brakes have been replaced in the past.
Answered by GPT-4o mini
The example that is a barrier to human capital is:

**A student earning high enough grades, but being unable to afford college.**

This scenario illustrates a barrier to developing one's human capital due to financial constraints despite having the necessary academic qualifications.
Answered by GPT-4o mini
The example of a barrier to entry that an entrepreneur could face is:

**obtaining proper licensing to start the business.**

This reflects a regulatory requirement that can impede the entrepreneur's ability to enter the market and start their business.
Answered by GPT-4o mini
The option that would not be covered under property rights is:

**a shark in the Atlantic Ocean.**

Wild marine animals like sharks are generally considered part of the common property or public domain, and individuals do not have ownership rights over them.
Answered by GPT-4o mini
The situation that exemplifies asymmetric information is:

**The buyer and the seller of a used car do not know that the brakes have been replaced in the past.**

In this scenario, both parties lack important information about the condition of the car, leading to an imbalance in knowledge that characterizes asymmetric information.