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:

Freight

The transportation of goods by truck, train, ship, or aircraft, often involving large quantities of products over distances.

Cash Discount

A reduction in the price of goods or services offered by the seller to the buyer for immediate payment or payment within a specified time frame.

Partial Payment

A payment made that is less than the total amount due for a bill or debt.

Pet Food

Specially formulated food intended for consumption by pets, such as dogs and cats, designed to meet their nutritional needs.