Question

An institution is a significant practice, relationship, or organization in a society. Institutions shape the environment in which decisions are made, and they affect production and income in a nation. The most significant institutions are private property rights, political stability and the rule of law, open and competitive markets, efficient taxes, and stable money and stable prices.

Required:
The single greatest incentive for voluntary production is the existence of:______

Answer 1

Private property rights

Step-by-step explanation:

The Private property rights are the key that should be considered for the individuals and the country. Also it would given the feeling of pride and inclusion

Moreover, it would include all the cost and the benefits that could be involved in the decision making at the time when it would be decided which resource should be used

Hence, the above represent the answer