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Which good has well-defined property rights? wild animals a country club golf course the ocean the...

Which good has well-defined property rights?

wild animals
a country club golf course
the ocean
the air
a street performance
Business   Economics   
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Answer #1

Option B is correct - A country club golf course

This is because a good having property rights means that the good has ownership and one can exclude others from using it.

Except for option B, all other categories do not have property rights as we cannot exclude others from it and they are available to all free of cost.

But there is ownership of country club golf course and not everyone can use it unless they have paid for its membership. Thus it is not available free of cost to everyone and we can exclude others from it and thus it comes under the category of well defined property right.

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