Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

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

Answer

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Work Step by Step

Property rights help ensure that land is shared fairly and thus allows the economy to function properly. Consider the case of a factory, for instance. If a person wanted to build a factory and there were no property rights, they could never build it, for once they built it, anyone could claim the rights to the factory.
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