Property rights are
A)the title to ownership of any physical asset.
B)a legal document verifying ownership of intangible assets.
C)the rights individuals or firms have to the exclusive use of their property, including the right to buy or sell it.
D)the right of the government to appropriate private assets for the good of society.

Question

Quizplus · Accepted Answer

Property rights refer to the legal rights and protections of owners to use, control, and transfer their assets, including physical and intangible property. It involves the right to buy, sell and use property freely without fear of infringement by others, including the government. Therefore, option C clearly defines the property rights. The option D is incorrect because it talks about government's power to confiscate private assets, which violates the concept of property rights.

Property Rights Are