Asked by Brett Blahnik on Jul 04, 2024
Verified
Opponents of land nationalization argue that private ownership
A) allows rent to function as an efficient allocation mechanism.
B) is fair in terms of equalizing income distribution.
C) follows the natural order of things in society.
D) is consistent with detailed government planning for land use.
Private Ownership
The legal right of individuals or corporations to own property and assets, distinguishing from public or state ownership.
Allocation Mechanism
The process or system used to determine how resources are distributed and goods and services are allocated in an economy.
- Understand the importance of private land ownership concerning efficiency and social equity.
Verified Answer
KH
Kaila HollandJul 06, 2024
Final Answer :
A
Explanation :
Rent as an efficient allocation mechanism is a common argument for private ownership, as it is believed to ensure that land is used by those who value it most highly, thus leading to its most efficient use.
Learning Objectives
- Understand the importance of private land ownership concerning efficiency and social equity.