Public property rights refer to the right of ownership that is absolutely necessary for trade to occur and are ensured by a legal system of laws and courts.

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Public property refers to property owned collectively by a community, government, or organization. In contrast, public property rights are not necessary for trade to occur and do not refer to ownership, but rather refer to government regulations and laws regarding the use, access, and protection of public property or resources. Private property rights are what enable trade to occur, as they provide individuals and businesses with the incentive and legal framework to own and exchange goods and services.

Public Property Rights Refer to the Right of Ownership That