Property rights
What Property rights means in Economics A-Level, as defined for AQA.
Definitions of Property rights
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Reference: AQA
Legal ownership whose lack prevents individuals from using land as collateral for loans, stifling entrepreneurship and capital accumulation by restricting access to credit markets.
Clear private ownership of a resource; where this is absent, users do not bear the full cost of their exploitation.
The exclusive authority to determine how a resource is used and to charge for its use.
Topics that use Property rights
- Economic growth and development (AQA A-Level)
- Positive and negative externalities in consumption and production (AQA A-Level)
- Public goods, private goods and quasi-public goods (AQA A-Level)
Related terms
- Capacity constraints
- Economic development
- Economic growth
- Environmental market failures
- Excludability
- Externalities
- Foreign aid
- Foreign direct investment
Using Property rights in the exam
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