To create a market

Question

To create a market

Quizplus · Accepted Answer

In order for a market to exist, property rights must be defined. This means that individuals or groups have the right to own, use, and dispose of resources or goods as they see fit. This helps to create incentives for individuals to participate in the market and invest resources into production and exchange. Assigning roles, providing instructions, and minimizing transaction costs can all help facilitate the functioning of a market, but without clear property rights, there is no true market.

To Create a Market