Question

Private property Multiple Choice discourages innovation, as people are often afraid to risk losing their own property. discourages cooperation because people don't want to part with what they own. encourages owners to maintain or improve their property so as to preserve or enhance value. does everything indicated by the other answers.

Answer 1

The correct answer is encourage owners to maintain or improve property to preserve or enhance value.

Step-by-step explanation:

The private property right is the right of individuals and organizations to own tangible, physical, and intellectual property. There are four components of property rights

1. How to use property
2. Earn income on the property
3. Transfer or destroy property
4. Enforce property rights

The private property encourages individuals to invest to enhance value and earn a profit. It also encourages the firms to take up research and development as they can earn profit from it.