A well-functioning market economy does not require laws to protect private property rights and mechanisms for contract enforcement.

Question

Quizplus · Accepted Answer

A market economy relies on private property rights and contract enforcement to ensure that individuals can engage in economic activities without fear of theft or breach of contract. Without these protections, individuals would be less likely to engage in economic activity and the economy would not function efficiently. Therefore, laws and mechanisms for protecting private property rights and enforcing contracts are essential for a well-functioning market economy.

A Well-Functioning Market Economy Does Not Require Laws to Protect