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APEC 1600 > Barbed Wired > Flashcards

Barbed Wired Flashcards

1
Q

Barbed Wire

A

Introduction and widespread of adoption of barbed wire: 1880-1900
*Invented by Joseph Glidden and patented in 1887
*Cheaper and lower labor requirements than wood fencing

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2
Q

Branding

A

American West—evolved from European and Vaquero traditions
*Allowed multiple ranches/owners to graze freely on open range

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3
Q

Externality

A

A cost or benefit that affects a party who did not choose to incur that cost or benefit.

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4
Q

Fencing Law

A
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5
Q

Lawful Fence

A

a good, substantial, sufficient, and well suited barrier that is
sufficient to prevent animals from escaping property and to protect the property from trespassers.”

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6
Q

Excludability

A
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7
Q

Creative Destruction

A

the process of creative destruction is the essential fact about capitalism, Innovation both creates and destroys industries

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APEC 1600 (10 decks)

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