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:

Instrumental Dilemma

A situation where individuals face a choice between actions or tools that can lead to different outcomes, often in the context of achieving a specific goal or solving a problem.

Sexual Consummation

The act of completing a marriage through sexual intercourse.

Physical Attraction

The degree to which one finds another person's physical appearance appealing or desirable.

Passion

A strong emotional state characterized by intense desire, enthusiasm, or interest in something or someone.