What Are Property Rights

question 147

Multiple Choice

What are property rights?

• 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

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Definitions:

Positive Reinforcer

A desirable stimulus that increases the likelihood of a behavior being repeated when it is presented following that behavior.

Money

A medium of exchange in the form of coins and banknotes; used to facilitate the sale, purchase, or trade of goods and services.

Negative Reinforcement

A behavioral principle where the removal of an unfavorable outcome or stimulus increases the likelihood of a behavior being repeated in the future.

Removal

The act of taking away or eliminating something from a particular place or context.