Question

property rights are ______.
○ legal obligations to repay a debt
○ agreements enforceable by law
○ privileges to decide how resources are used

Explanation:

Property rights refer to the legal rights that grant individuals or entities the authority to control, use, and dispose of resources. The first option describes debt obligations, which are liabilities, not property rights. The second option refers to contracts, a different legal concept. The third option aligns with the core definition of property rights.

Answer:

privileges to decide how resources are used