The Term "Property Rights" Refers to

question 249

Multiple Choice

The term "property rights" refers to

• A)the physical possession of a house or any other property which the owner legally purchased.
• B)the ability to exercise control over one's own resources within the confines of the law.
• C)the government's right to appropriate land from wealthy land owners to redistribute to peasants.
• D)the right of a business not to have its assets confiscated by the government in the event that the business is accused of committing fraud.

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Definitions:

Ethical Work Environment

A work setting where moral standards guide practices and behaviors, fostering trust and integrity among employees and with clients.

Misrepresentation

A legal cause of action on which an injured party seeks damages. It arises when a salesperson makes erroneous statements or offers false promises regarding a product’s characteristics and capabilities.

Product Capabilities

The specific abilities or features of a product that meet customer needs or solve problems.

Cooling-off Law

Legislation that allows consumers a set period of time to cancel a contract or purchase decision without penalty.