Question

Which of the following is considered to be the most fundamental right of the private enterprise system?

a. The right to guaranteed profits.
b. The right to fair competition.
c. Freedom of choice.
d. The right to private property.

Answer 1

Answer: D - The right to private property.

Explanation: Property right is the theoretical and legal ownership of tangible or intangible resources and how they can be used by their owners.

According to the universal declaration of human rights (Article XVII) ('no one shall be arbitrarily deprived of his property')

A private property system gives individuals the exclusive right to use their resources as they see fit.