When Private Ownership of a Resource Is Clearly Defined and Enforced

question 26

Multiple Choice

When private ownership of a resource is clearly defined and enforced, the private owner

• A) has little incentive to consider the wishes of others when deciding how to employ the resource.
• B) has little incentive to use the resource wisely.
• C) has a strong incentive to consume the resource during the period rather than conserving it for the future.
• D) has a strong incentive to use the resource wisely.

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Definitions:

Analytic Process

The procedure of examining the components of a complex situation or theory to understand its nature or to determine its essential features.

Consciousness Raising

An aspect of psychological and social interventions aimed at increasing individual awareness about a particular issue or aspect of self.

Psychoanalytic Theory

A theory developed by Freud that emphasizes unconscious processes and childhood experiences in shaping personality, behavior, and psychological problems.

Compromise Formation

A concept in psychoanalytic theory that refers to how the ego manages the conflict between the id, ego, and superego, resulting in a compromise that minimizes psychological discomfort.