##Economics, Property Rights, and Development## Armen Alchian, Ronald Coase, and Harold Demsetz founded the modern property rights school of economics. (11) Property rights are important because they. limit destructive economic growth. when you won something you have incentive to take care of it . Intellectual property (IP) rights are valuable assets for your business - possibly among the most important it possesses. C. Encourage businesses to keep prices as low as possible D. Place regulations on businesses that make dangerous products. encourage economic activity. b) guarantee that any exchange will make all parties better off than prior to the exchange. B. Property rights are laws that governments create to determine who owns what and why. C. create economic problems. Property rights also ensure Y use of resources. In a market system, well-defined property rights are important because they: A. reduce unnecessary investment. Your IP rights are important because they can: set your business apart from competitors; be sold or licensed, providing an important revenue stream the right to enforce property rights; This obviously encompassing physical goods, but also has to include intellectual goods. why do private property rights matter. Protect businesses' freedom to buy and sell products. The answers to these questions can’t be determined in the free market, because someone’s got to make a call on right and wrong. B. limit destructive economic growth. c) encourage cooperation by improving the chances of mutually agreeable transactions. Answer Key: D Question 8 of 19 5.0 Points If two goods are complements: A. they … This Mallows people to invest in small businesses or pay for education. Why is it important to protect intellectual property rights? Property rights are important to individuals because they provide the needed to secure credit. Allow businesses to freely take ideas from competing companies. In a market system, well-defined property rights are important because they: reduce unnecessary investment. d) allow the government to control how resources are allocated. That’s where governments and a justice system become necessary. Private property rights are important because: a. they create incentives for people to improve their standard of living. That's because individuals will use their resources carefully and wisely to profit Answers: 1 on a question: Property rights are important to a free enterprise system because they: A. a) ensure an equal distribution of income. This is a correct answer _____ Question 18 (Worth 5 points) If two goods are complements: they are consumed independently. because they create incentive to improve standard of living. D. encourage economic activity. create economic problems. 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