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Property Rights
Legal rights to possess, use, and dispose of assets, including intellectual property or real estate.
Capital Goods
Physical assets that a company uses in the production process to manufacture products and services that consumers will later use.
Specialization
The process of focusing resources on the production of specific goods or services to achieve greater efficiencies and economies of scale.
Economically Beneficial
Activities or decisions that result in a net gain in economic value, improving the economic welfare of individuals or society as a whole.
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