Legally established titles to the ownership,use,and disposal of factors of production are referred to as
A) property rights.
B) Coase rights.
C) pollution rights.
D) emission rights.
E) price-setting rights.

Question

Quizplus · Accepted Answer

Legally established titles to the ownership, use, and disposal of factors of production are referred to as property rights. These rights give individuals and businesses the ability to control and make decisions regarding their property. This is a key aspect of a market economy as it encourages individuals to invest in and utilize their resources to maximize their own self-interest, which ultimately benefits the overall economy.

Legally Established Titles to the Ownership,use,and Disposal of Factors of Production