Principles of Economics

D​‌‍‍‍‌‍‍‌‍‌‌‍‍‍‌‍‌‌‌‍​efine the term "property rights" and explain why they lack of well-defined and​‌‍‍‍‌‍‍‌‍‌‌‍‍‍‌‍‌‌‌‍​ enforceable property rights is detrimental to the smooth functioning of a market system​‌‍‍‍‌‍‍‌‍‌‌‍‍‍‌‍‌‌‌‍​.

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