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You may name your own price for your property if the government takes it for a public purpose?
Wiki User
∙ 14y ago
false
Wiki User
∙ 14y ago
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A person may name his or her own price for property if the government takes it for public purpose?
False
The right of the government to take away private property for public use is called?
The legal term is "eminent domain". The power is derived from the 5th Amendment of the United States Constitution. ...nor shall private property be taken for public use, without just compensation.
Which purpose of government is served when the government sets the price of milk?
Economic stability is served when the government sets prices.
Can the government take away a persons's property without paying a fair price for it?
no
Which amendment says the government has to give fair price for property?
amendment 25
What is the 'Nightwatch-Rembrandt' worth?
it has no price as it will never be sold, and will always be property of the Dutch government
The government may not take away a persons's property without paying a fair price for it?
Private property. An example would be land that is taken by the government to build a road.
The government may not take away a persons's property without paying a fair price for it.?
true
What are the two major ways that the government intervenes in the marketplace?
Defending the property, wealth and power of the capitalist class.
When the government produces goods and services does it always compete with producers in the private sector?
The government generally steps in, in cases where there is market failure, where the market fails to make efficient allocation. In the government's model (or the public sector) there is no price competition i.e. the government's aim is to provide good quality output such that both ends benefit (that is the producer and the consumer) in terms of price paid. For ex: The government offers a reserve price for farmers so that if private players offer a lower price farmers can realise atleast the minimum reserve price by selling to the government, while they output gets distributed at the PDS at a price lower than private players offer, because the objective of the government unlike private sector is not profit making but efficient allocation in an attempt to make all better off. In some cases there is no alternative but government taking responsibility like for public goods, because of the property of non-exclusion.
How does due process limit eminment domain?
It requires the government to pay a fair price for the property taken from the owner.
What is difference between government appraisal and landowner appraisal?
The government - in the form of the local tax appraiser - comes up with a value (i.e. appraises) property so that the government knows how much tax to assess that property. Alternatively a landowner can hire a private appraiser to give the landowner an idea of how much the property might be worth or sell for, a value which could be useful in determining how much insurance to have, or whether to refinance, or estate planning reasons, etc.
