Property rights influence the exchange of goods and services in the market by preventing market failures from arising in an economy.
Property rights are vital as they preclude the violation of not only the right of producers and consumers but also prevent overexploitation of the resources at both ends.
Moreover, these rights control the profit-seeking temptations and behaviors of the manufacturers of the goods.
On top of this, the needs and wants of the consumers keep the outputs in control and do not let the production exceed needed.
Hence property rights are valuable tools and the best way to block market failure arising in an economy.
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