The ability to exercise control over one's own resources within the confines of the law refers to
A)the free market.
B)one's property rights.
C)entrepreneurship.
D)having an absolute advantage.

Question

Quizplus · Accepted Answer

Property rights refer to the legal right to control resources and make decisions about how to use them. This includes both tangible property (such as land or buildings) and intangible property (such as intellectual property or contractual rights). Having property rights allows individuals and businesses to make decisions about how to allocate their resources in ways that are best suited to their own interests, within the boundaries of the law. The free market and entrepreneurship are related concepts, but they do not refer specifically to the ability to exercise control over one's own resources. Having an absolute advantage refers to being more efficient or productive than others in a particular activity or industry, and is not directly related to property rights.

The Ability to Exercise Control Over One's Own Resources Within