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Author Question: What are private property rights? Does enforcement of property rights promote economic growth and ... (Read 215 times)

debasdf

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on: Jun 30, 2018
What are private property rights? Does enforcement of property rights promote economic growth and prosperity?
 
  What will be an ideal response?

Question 2

Refer to Figure 4.1, which shows Molly's and Ryan's individual demand curves for compact discs per month. Assuming Molly and Ryan are the only consumers in the market, what is the market quantity demanded at a price of 3?
 
  A) 6 B) 9 C) 15 D) 20
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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upturnedfurball

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Reply #1 on: Jun 30, 2018
Answer to Question 1

Private property rights mean that individuals can own businesses and assets, and their ownership is secure. Private property rights are conducive to economic prosperity, because when they exist, citizens do not have to worry about the government or someone else taking away their assets arbitrarily. This provides an incentive to innovate, and improve efficiency of production that leads to economic prosperity.

Answer to Question 2

D


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