When One Person Uses a Common Resource, She Diminishes Other

question 43

Multiple Choice

When one person uses a common resource, she diminishes other people's enjoyment of it.This is an example of:

• A)a market force
• B)a negative externality
• C)the 'invisible hand
• D)excludability

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Definitions:

Rescission

The termination of a contract.

Contract

A contract that is enforceable by law, involving two or more parties, which specifies their duties and entitlements.

Nonbreaching Party

The party in a contractual agreement who has not failed to fulfill any contractual obligations or terms.

Rescission

The act of revoking, canceling, or repealing a contract, returning all parties involved to their pre-contractual state.