Which of the Following Is the Best Example of a Market

question 247

Multiple Choice

Which of the following is the best example of a market failure to conserve a resource resulting from poorly defined property rights?

• A)preserving elephants in Africa
• B)drilling for oil in Saudi Arabia
• C)mining of oil shale in Canada
• D)hunting of deer in the United States

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Definitions:

Non-Verbal Behaviour

Communication without the use of spoken language, encompassing gestures, facial expressions, body language, and other physical cues.

Cultural Differences

The variety of distinct beliefs, values, behaviors, and traditions that exist among groups of people from different backgrounds or societies.

Snap Judgements

Quick decisions or evaluations made spontaneously or without careful consideration.

Contact Hypothesis

The view that bringing members of opposing social groups together will improve intergroup relations and reduce prejudice and discrimination.