In the real world, it is impossible to have effectively functioning markets in the absence of private property. Discuss.

In the real world, it is impossible to have effectively functioning markets in the absence of private property. Discuss.

Short essay on In the real world, it is impossible to have effectively functioning markets in the absence of private property. Discuss.

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Private property refers to ownership of properties by a non-governmental entity. It can be either personal or corporate property ownership. It is essential in a market economy; therefore, its absence hinders market growth. In the market concept, every stock is owned by an individual. This is useful in the location of r3esources within a market economy because the owners of the properties can manipulate the prices of each commodity or property they own (Ginzberg, 2017).

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