For markets to work well,there must be
A)market power.
B)a central planner.
C)property rights.
D)abundant,not scarce,resources.

Question

Quizplus · Accepted Answer

Property rights are essential for markets to operate smoothly. Property rights protect individuals' and businesses' ownership of assets such as land, buildings, and intellectual property. This allows for transactions to take place with predictable outcomes, and it provides an incentive for individuals to invest and innovate. Market power and a central planner can actually hinder markets from functioning properly, as they can distort prices and create inefficiencies. Abundant, not scarce, resources may lead to a lower price, but it is not necessarily a requirement for markets to work well.

For Markets to Work Well,there Must Be