Question

_______ is the possibility of trading property ownership and all of its benefits for something of value in return. If the benefits of owning property are not transferable, the property has no value to a prospective purchaser.

Answer 1

Property rights are the rights of individuals and firms to own and use property as they see fit. The transferability of property benefits determines its value to prospective purchasers.

Step-by-step explanation:

Property rights refer to the rights of individuals and firms to own and use property as they see fit. These rights include the ability to trade or sell property in exchange for something of value. The value of property to a prospective purchaser depends on the transferability of the benefits associated with the ownership of that property. For example, if a property's benefits are not transferable, it would have no value to a potential buyer.