Possession protection of property rights
Why possession protection of property rights and private property promotes the market system?
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The possession of protection of property rights and private property promotes innovation, investment, consequently economic growth also. Property rights promote the maintaining of the property and they facilitate the exchange of the property.
Explain Government expenditures on goods and services and transfer payments?
Suppose you go to a recycling center and are paid 25 cents per pound for your aluminum cans. However, the recycler charges you $.20 per bundle to accept your old newspapers.
Describe Quasi-public goods?
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Double coincidence of wants: This means that one person's wishing to buy and sell should coincide with another person’s wish to buy and sell.
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