Question

Property rights are A. the rights individuals or firms have to the exclusive use of their property within individual culturally defined norms which are inconsistent in each area of the United States. B. the rights government has to the exclusive use of all​ property, including the right to buy or sell it. C. the rights individuals or firms have to the exclusive use of their​ property, including the right to buy or sell it. D. the rights individuals or firms have to the exclusive use of their​ property, excluding the right to buy or sell it.

Answer 1

Answer:

The correct answer is option C.

Explanation:

Property rights can be defined as the rights to individuals and businesses to own resources and determine their usage. It refers to both tangible as well as intangible resources that can be owned by individuals, firms or governments.

The individuals or forms have the rights to own and use property, right to transfer property to others, right to earn profit from it and the right to exercise property rights.