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Private Property

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Hi. Im learning about economics, and I am not really strong in this area. So I would like to know what this term means.

Private Property.

Please try to simplify it as much as possible so that I understand.

  • Private Property -

    Private property is anything owned by an individual or a company.

    Your clothing is private property.
    Your home and yard is private property.
    A company's buildings and grounds are private property.

  • Private Property -

    Thanks so much. Love the explanation =)

  • Private Property -

    You're very welcome. :-)

  • Economics -

    Compare North and South Koreans economic provisions on private property and how it relates to the economic provisions of the U.S. On private property?
    Please help I am really confused and I don't understand this.
    Thank you :-)

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