Define the term “property rights” and explain why the lack of well-defined and enforceable property rights is detrimental to the smooth functioning of a market system.

Topic:

Define the term “property rights” and explain why the lack of well-defined and enforceable property rights is detrimental to the smooth functioning of a market system.

1 page, double spaced, 12 point font. 275-350 words around 3-5 paragraphs.