What are the elements of property rights that help markets function?

Choose 1 answer:
A) central planning of resource use, central planning of allocation of goods, centrally set prices
(B) exclusivity, enforceability, and transferability
(C) non-rivalry and non-excludability
(D) rivalry and non-excludability
(E) durability, portability, divisibility

Question

What are the elements of property rights that help markets function?

Choose 1 answer:
A) central planning of resource use, central planning of allocation of goods, centrally set prices
(B) exclusivity, enforceability, and transferability
(C) non-rivalry and non-excludability
(D) rivalry and non-excludability
(E) durability, portability, divisibility

Accepted Answer

***B*** ∻Key Concept∻ ⚹Property Rights in Market Economies⚹ ∻Explanation∻ ⚹Property rights that include exclusivity, enforceability, and transferability are essential for the functioning of markets because they ensure that individuals can own, control, and transfer assets, which incentivizes investment, trade, and efficient resource allocation.⚹◊What impact do property rights have on market efficiency in terms of resource allocation?⍭ Generate me a similar question◊

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