Property rights are an important feature of an effective market because they:
A)lead to the development of government control over prices.
B)prevent harm to the environment from pollution.
C)give owners of goods and services the right to use and dispose of those goods and services as they choose.
D)are the basis for an equitable tax system.

Question

Quizplus · Accepted Answer

Property rights allow for individuals to have control over their own goods and services, and this control enables them to make decisions on how to use or sell them. This leads to a more efficient allocation of resources as individuals have an incentive to use their property in a way that maximizes their own benefits. Additionally, property rights provide legal protection for individuals against theft, damage, or other forms of infringement on their property.

Property Rights Are an Important Feature of an Effective Market