Terra Nullius Is a Long Established Principle of International Law

question 10

Multiple Choice

Terra nullius is a long established principle of international law which means:

• A)'everyone in a British colony is equal under British law'.
• B)'a country has the power to declare laws are null and void with the approval of the national Parliament'.
• C)'a land with no people can be totally subject to the laws of the nation which occupies that land'.
• D)'the laws and traditions of a country must be followed and respected when that country is occupied by another nation'.

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Definitions:

Free Market

An economic system where prices for goods and services are determined by the open market and consumers, with minimal government intervention.

Optimal Pigouvian Tax

A type of tax designed to correct the negative externalities of a market activity, set at a level that equates the marginal social cost of the externality with the marginal private cost.

Socially Optimal

A condition where resources are allocated in a way that benefits society as a whole, maximizing overall welfare.

Pollution

The introduction of contaminants into the natural environment that cause adverse change, affecting air, water, and land.