Property Rights Are

question 87

Multiple Choice

Property rights are

• A)the title to ownership of any physical asset.
• B)a legal document verifying ownership of intangible assets.
• C)the rights individuals or firms have to the exclusive use of their property, including the right to buy or sell it.
• D)the right of the government to appropriate private assets for the good of society.

---

Definitions:

Business Monopoly

A market structure characterized by a single seller or firm dominating the entire market, often leading to less competition and higher prices.

Price Equal

A situation where the market price stabilizes, reaching a point where supply equals demand.

Marginal Cost

The extra financial burden of manufacturing one more unit of a product or service.

Natural Monopolies

A situation where a single firm can supply a product or service to an entire market at a lower cost than two or more firms, making competition impractical.