A Policy That Allows Landowners to Raise and Kill Elephants

question 124

Multiple Choice

A policy that allows landowners to raise and kill elephants on their own properties is trying to:

• A)reduce the elephant population from becoming too large
• B)regulate the elephant hunting market so that only the best quality tusks are sold to consumers
• C)make sure the common resource that is elephants continues to grow
• D)convert elephants to a private good so that wild populations do not become extinct

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Definitions:

Unemployment

The situation where individuals who are capable of working and are actively seeking work remain jobless.

Inflation

Inflation is the rate at which the general level of prices for goods and services is rising, eroding purchasing power over time.

Ceteris Paribus

A Latin term used in economics to describe the analysis of a condition under the assumption that all other variables remain unchanged.

Scarcity

The basic economic issue arises from unlimited human desires facing limited resources on the planet.