One Difficulty in Managing Common Property Resources Is That

question 55

Multiple Choice

One difficulty in managing common property resources is that:

• A) the monopoly firm that owns such a resource typically has great economic power, so that breaking it up into smaller firms is not practical.
• B) the monopoly firm that owns such a resource typically is a natural monopoly, so that it is undesirable to break it up into smaller firms.
• C) many common property resources are so small that management would have to be done on a micro level, greatly increasing government activity in the economy.
• D) many common property resources are so vast that single ownership or management of them is not practical, especially if they cross international borders.
• E) more and more of them come into being as pollution increases.

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Definitions:

Forgery

The act of falsely making or altering a document with the intent to deceive or defraud.

Negotiable Instrument

A document guaranteeing the payment of a specific amount either on demand or at a set time, with the instrument being transferable between parties.

Unauthorized Signature

A signature that is made without the explicit permission of the person purportedly signing or the authority to sign on behalf of an entity.

Shelter Rule

A legal principle that allows a person who acquired rights in good faith to be sheltered or protected by the rights of the prior holder.