Macroeconomics: Principles, Problems, & Policies 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0-07766-077-3
ISBN 13: 978-0-07766-077-2

Chapter 2 - The Market System and the Circular Flow - Discussion Questions - Page 49: 3

Answer

Private property and the protection of property rights are so critical to the success of the market system because they encourage investment, leading to economic growth. Property rights help to make sure that only mutually agreed upon economic transactions take place.

Work Step by Step

Property rights ensure that no one can come in and claim your property without your permission.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.

GradeSaver will pay $15 for your literature essays
GradeSaver will pay $25 for your college application essays
GradeSaver will pay $50 for your graduate school essays – Law, Business, or Medical
GradeSaver will pay $10 for your Community Note contributions
GradeSaver will pay $500 for your Textbook Answer contributions