The Tragedy of the Commons Can Be Corrected by

question 32

Multiple Choice

The Tragedy of the Commons can be corrected by

• A)conducting a cost-benefit analysis.
• B)assigning property rights to individuals.
• C)providing government subsidies for the resource.
• D)making certain everyone in the economy has access to the resource.

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Definitions:

Capital Goods

Assets used by businesses to produce goods and services, such as machinery, buildings, and equipment, not intended for immediate sale but for productive use over time.

Population Growth

The increase in the number of individuals in a population, often measured by the rate at which the number of individuals increases in a specific time period, usually expressed as a percentage.

Productivity

The measure of the efficiency of production, often calculated as the ratio of outputs produced to inputs used in the production process.

Capital Goods

Long-lasting goods that are used in the production of other goods or services and are not consumed in the process.