What are the implications of particular characteristic

Reference no: EM13179463

In a country with a market economy, the owners of firms (businesses) are, to use Gwartney, et. al.'s term, residual claimants. What are the implications of this particular characteristic of business owners? How do other citizens within the country benefit from this feature of a market economy? Do employees within government agencies operate under the same incentives as these residual claimants?

Reference no: EM13179463

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