Final answer:
Mineral rights allow the holder to develop the surface and extract resources from a piece of land. These rights are a component of property rights, which are crucial for economic growth and investment.
Step-by-step explanation:
The right to develop the surface and to use resources extracted from or near the surface of a piece of land is known as mineral rights. These rights are part of the broader category of property rights, which allow individuals and firms to own property and use it as they see fit, including the extraction and utilization of natural resources. Having clear and enforceable property rights is essential for economic growth, as it encourages individuals and firms to invest in and develop properties. In some cases, governments may enact laws that restrict access to private property to protect natural areas, impacting civil liberties such as freedom of movement.