The bundle of legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource are called what type of rights?

Question

Carlos Cruz

Social Studies

26 October, 11:52

The bundle of legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource are called what type of rights?

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Answers (1)

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Mollie Macdonald · Answer 1

Answer: Property rights

Explanation:

Property rights are theoretical socially-enforced constructs in economics for determining how a resource or economic good is used and owned. Resources can be owned by (and hence be the property of) individuals, associations, collectives, or governments. 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, alter it, abandon it, or destroy it (the right to ownership cessation)

- the right to enforce property rights