Which of the following represents the ownership of resources used in a private enterprise system?
A) Freedom of choice
B) Private property rights
C) Increased profits
D) Limited competition
E) Perfect competition

Question

Quizplus · Accepted Answer

Private property rights represent the ownership of resources in a private enterprise system. This means that individuals or businesses have the right to own, use, and dispose of property and resources as they see fit, within the boundaries of the law. This includes physical property like land and buildings, as well as intangible property like intellectual property rights. Private property rights incentivize individuals and businesses to invest in and improve their property, which can lead to economic growth and prosperity.

Which of the Following Represents the Ownership of Resources Used