Laws That Assign Owners the Rights to Use Assets as They

question 49

Multiple Choice

Laws that assign owners the rights to use assets as they see fit are called

• A)human rights.
• B)economic rights.
• C)property rights.
• D)government rights.

---

Definitions:

Consumers

Individuals or entities that purchase goods or services for personal use, not for manufacture or resale.

Firms

Business entities that produce goods or provide services with the aim of making a profit.

Entrepreneur

An individual who creates, organizes, and operates a business or businesses, taking on financial risk to do so.

Profit

The financial gain achieved when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes.