In which of the following examples are property rights not well established?
A) Bill chooses to ride his bike to work rather than drive his car.
B) Groups of students play loud music in the open area between the dorms.
C) Sue reads a book on her patio.
D) Executives discuss corporate strategy in the company boardroom.

Question

Quizplus · Accepted Answer

Property rights refer to the rights of an individual or group to own, use, and dispose of resources. In the given options, property rights are well established in all except option B, where the students are playing loud music in a common area without considering the rights and preferences of others using the same space. The noise is a negative externality that affects the well-being of other individuals, but there are no established rules or regulations to address this issue.

In Which of the Following Examples Are Property Rights Not