Private individuals and businesses are able to utilize property as they wish as a result of:

• A. the law of demand
• B. public ownership of resources
• C. the existence of property rights
• D. government price controls

Answer: (C)

Verified step by step guidance

1. Understand the concept of property rights: Property rights refer to the legal rights that individuals or businesses have to use, control, and transfer property. These rights allow owners to decide how to utilize their resources.
2. Recognize that the law of demand explains consumer behavior in response to price changes, but it does not grant rights to use property.
3. Note that public ownership of resources means the government owns the resources, which limits private individuals' ability to use property freely.
4. Government price controls regulate prices but do not determine who can use or control property.
5. Conclude that the ability of private individuals and businesses to utilize property as they wish is due to the existence of property rights, which legally protect their control over resources.