Facing the Recurring Dilemma of Cookie-Jar Depletion Within 24-Hours of Its

question 61

Multiple Choice

Facing the recurring dilemma of cookie-jar depletion within 24-hours of its being restocked, Mom decides to do something to reduce this weekly tragedy of the commons. What strategy will be most effective in protecting the commons?

• A) Scold Dad for eating too many and then ask him to scold the children.
• B) Give each family member just three cookies a day and keep the rest hidden.
• C) Stop buying cookies for a month to illustrate the personal consequences of destroying the commons.
• D) Call a family meeting and scold everyone all at once for eating too many cookies.

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Definitions:

Government Policies

Rules, regulations, and actions taken by a government to control or influence its country's economy or society.

Price Subsidies

Financial assistance provided by governments to lower the cost of goods or services, making them more accessible to consumers.

Income Subsidies

Income subsidies are financial assistance programs provided by governments to individuals or households to help them afford essential needs, thereby increasing their income.

Economic Inefficiency

A situation where resources are not allocated optimally, leading to wastage or less than maximal output in an economy.