The economic property rights:
A)exist only in market economies.
B)are not essential for the ability to trade with others.
C)are necessary for the existence and creation of wealth.
D)are identical with legal property rights.

Question

Quizplus · Accepted Answer

Economic property rights are necessary for the existence and creation of wealth. Without economic property rights, individuals would have no incentive to invest in productive resources, as they would not have the assurance that they would reap the benefits of their investments. This is essential for the growth of a market-based economy. The other choices are not entirely accurate because economic property rights are not exclusive to market economies and are not identical to legal property rights. However, the ability to trade with others is facilitated by the existence of economic property rights.

The Economic Property Rights