The bundle of legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource are called _____ rights.

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Property rights refer to the bundle of legal rights that an owner has over a resource. These rights include the right to use the resource, the right to exclude others from using the resource, and the right to sell or transfer the resource. Property rights are important in economics because they provide individuals with the incentive to invest in and improve resources, since they are able to retain the benefits of their efforts. Civil, political, shareholder, and public rights are all important, but they do not pertain specifically to property ownership and use.

The Bundle of Legal Rights Over the Use to Which