Establishing property rights
A)is a characteristic of most centrally planned economies.
B)provides incentives.
C)is not important in a market economy but is an important feature in a centrally planned economy.
D)is not important in a market economy.
E)is another name for eminent domain.

Question

Quizplus · Accepted Answer

Establishing property rights provides individuals with ownership and control over resources, which in turn provides incentives for them to use and manage those resources efficiently. This is a key feature of market economies. Centrally planned economies, on the other hand, may not prioritize property rights and may instead have state ownership of resources. Eminent domain is a legal mechanism for the government to take private property for public use, but it is not synonymous with establishing property rights.

Establishing Property Rights