Exclusive Rights of Ownership That Allow the Use, Transfer, and Exchange

question 171

Multiple Choice

Exclusive rights of ownership that allow the use, transfer, and exchange of property are called

• A) common property rights.
• B) nonexclusive property rights.
• C) private property rights.
• D) public property rights.

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Definitions:

Rationalization

The process of making actions or outcomes seem reasonable or logical, often by creating a plausible explanation.

Efficient Means

Methods or strategies that achieve desired outcomes with the least amount of waste, effort, or expense.

Unintended

Outcomes or effects that were not planned or foreseen.

Rationalization

The process of logically justifying behaviors, decisions, or beliefs, often after the fact, to make them appear reasonable or societally acceptable.