property rights
property rights
English Definitions:
property rights (Noun)
The exclusive rights pertaining to the ownership of a given piece of property.
Property rights
Property rights are a controversial, theoretical construct in economics for determining how a resource is used, and who owns that resource—government, collective bodies, or individuals. Property rights can be viewed as an attribute of an economic good. This attribute has four broad components and is often referred to as a bundle of rights: ⁕the right to use the good ⁕the right to earn income from the good ⁕the right to transfer the good to others ⁕the right to enforcement of property rights. In economics, property usually refers to ownership and control over a resource or good. The concept of property rights as used by economists and legal scholars are related but distinct. The distinction is largely seen in the economists' focus on the ability of an individual or collective to control the use of the good. For example, a thief who has stolen a good would not be considered to have legal property right to the good, but would be considered to have economic property right to the good.
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"property rights." Kamus.net. STANDS4 LLC, 2024. Web. 4 May 2024. <https://www.kamus.net/english/property+rights>.
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