(Answered) Why is private ownership an important source of economic

Economics

Why is private ownership an important source of economic prosperity?

1. It eliminates the opportunity cost of using a resource.

2. It provides owners with a strong incentive to develop and use assets in ways that others value highly.

3. It allows owners to do anything they want with their property.

4. It makes it possible for owners to ignore the desires of others without having to bear the cost.

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Microeconomics, Economics

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