Bakers are much likely to supply pastries to the market if property rights are enforced. In the presence of market failures, public policy can improve economic efficiency.

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Explanation:

When the property rights are enforced or given to the people, it means that the owner or the right holder of the property have the ability or choice to do with the property what they want to do.

This might involves holding or keeping the property with them, renting or selling as to earn profit out of it or transferring it another party.

So, if the property rights are given, then the bakers are in a position to supply more pastries to the market and earn profit out of it.

if you do not file your taxes you will not have a job, and you credit rate will go down.