Asked by Kimberly Tieman on Jul 20, 2024
Verified
Two important roles of government in the economy are to safeguard private property and enforce contracts.
Private Property
A legal designation for the ownership of property by non-governmental legal entities, affording the owner exclusive rights to the use, disfranchisement, and transfer of the property.
Enforce Contracts
The process of legally ensuring that the terms of a contract are carried out as agreed, often involving judicial or regulatory intervention.
- Identify the fundamental roles of government in safeguarding private property and enforcing contracts.
Verified Answer
KS
Kayle SmithJul 20, 2024
Final Answer :
True
Explanation :
Safeguarding private property and enforcing contracts are fundamental functions of government in ensuring economic stability and promoting investment and growth. These actions provide individuals and businesses with confidence in their ability to own and use property and to engage in economic transactions with one another.
Learning Objectives
- Identify the fundamental roles of government in safeguarding private property and enforcing contracts.