Property rights allowing individuals to own goods, services, and factors of production are most important in:
A) socialistic economies.
B) planned economies.
C) capitalistic economies.
D) command economies.

Question

Quizplus · Accepted Answer

Property rights are most important in capitalistic economies, where private ownership and market competition are the key drivers of economic activity. In a socialistic economy, the government controls the means of production and distribution of goods and services, while in a planned economy, central planners make all economic decisions. In a command economy, the government directs and controls all aspects of the economy, including property rights.

Property Rights Allowing Individuals to Own Goods, Services, and Factors