Private Property Rights Mean That ________

question 17

Multiple Choice

Private property rights mean that ________.

• A) individuals can own businesses and assets, and their ownership is secure
• B) individuals have a right to elect their representatives in the government
• C) the government does not own any resources used in production in an economy
• D) individuals cannot be excluded from the consumption of goods and services regardless of whether they pay for them

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Definitions:

Marketplace

A physical or digital location where goods and services are exchanged between buyers and sellers.

Externality

A cost or benefit that affects a party who did not choose to incur that cost or benefit.

Soy-Based Grease

A type of lubricant derived from soy oil, known for being biodegradable and environmentally friendly, typically used in various mechanical and industrial applications.

Crop Damage

The loss or harm to agricultural produce due to adverse weather conditions, pests, diseases, or other factors.