An Example of Common Resource Is

question 13

Multiple Choice

An example of common resource is

• A)fish in the ocean.
• B)air traffic control.
• C)the Ambassador Bridge which goes between Windsor Ontario and Detroit.
• D)the Internet.
• E)national defence.

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Definitions:

Demand And Supply Diagram

A graphical representation used in economics to show the relationship between the price of a good and the quantity demanded and supplied at that price.

Health Care Consumed

The total amount of health services and goods utilized by individuals or a population.

Copayment

The percentage of (say, health care) costs that an insured individual pays while the insurer pays the remainder.

Monopsony Power

A market situation in which there is only one buyer for a product or service, giving that buyer substantial control over market conditions.