In Order for a Property Rights Approach to Produce an Efficient

question 8

Multiple Choice

In order for a property rights approach to produce an efficient level of environmental pollution the following conditions must be met:

• A) property rights must be well defined, enforceable and transferable.
• B) there must be a system for efficient negotiation about property rights to be negotiated.
• C) there must be a set of markets for environmental assets.
• D) all of the above.

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Definitions:

Feedback Loops

Systems within biological and ecological processes that regulate themselves through cycles of feedback information.

Sign Stimulus

A specific trigger from the environment that elicits an innate behavior in an animal.

Conditioned Stimulus

A previously neutral stimulus that, after becoming associated with an unconditioned stimulus, can elicit a conditioned response in an organism.

Negative Reinforcement

A behavioral concept where the removal of an unpleasant stimulus strengthens a behavior or increases its frequency.