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In an essay explain Why is private property, and the protection of property rights, essential to the success of the market system? How do property

In an essay explain

  1. Why is private property, and the protection of property rights, essential to the success of the market system? How do property rights encourage cooperation among resource owners and resource users?
  2. Why is it difficulty to distinguish between frictional, structural, seasonal, and cyclical unemployment? Why is unemployment an economic problem?

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