Question 7 / 96:  Explain how property rights minimize conflicts.
Answer: 

Resources are scarce, meaning that there aren't enough to satisfy

everyone's desires for using those resources. This situation leads

to conflict, because if one person uses a good to satisfy his goals,

someone else won't be able to. Property rights provide an orderly

way to determine which person gets to decide how a good will be

used, and how that ownership can be transferred to a different

person.

Sample Partial Credit Answer

Without property rights, people would always fight over resources.

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Capitalism: The Market Economy

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Attribution:  Dr. Robert P. Murphy, Lessons for the Young Economist. (Mises Institute), http://mises.org/document/6215/Lessons-for-the-Young-Economist (Accessed 04 April, 2014). License: Creative Commons BY
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