One Way to Overcome the Problem of the Commons Is

question 6

Multiple Choice

One way to overcome the problem of the commons is to

• A) take away property rights so that no one owns the resource.
• B) assign property rights so that someone owns the resource.
• C) leave the market alone because the market will reach an equilibrium in which the efficient amount of the resource is used.
• D) None of the above answers is correct.

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Definitions:

McDonalization

The process by which principles of fast food restaurants, like efficiency, predictability, and control, come to dominate various sectors of society.

Pepsi-Coke Wars

A colloquial term for the long-standing intense competitive and advertising battles between Coca-Cola and PepsiCo.

Symbolic Interactionism

A sociological perspective focusing on the symbolic meanings individuals create and use during social interactions.

Sociological Perspective

A viewpoint in sociology that examines how society influences individuals and groups, stressing the importance of social contexts in understanding human behavior.