Which Event Would Be an Example of a Common Property

question 160

Multiple Choice

Which event would be an example of a common property resource market failure?

• A) use of portable buildings in elementary schools
• B) highway congestion
• C) increased instances of leukemia among neighbors of nuclear plants
• D) gasoline that costs $5 a gallon

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Definitions:

North America

A continent located in the northern hemisphere, bordered by the Arctic Ocean to the north, the Atlantic Ocean to the east, the Pacific Ocean to the west, and South America to the south.

Trade Deficit

A situation where a country's imports of goods and services exceed its exports, reflecting a negative balance of trade.

NAFTA

The North American Free Trade Agreement, a treaty between the United States, Canada, and Mexico that aimed to reduce trading barriers.

Mexico

A country in the southern portion of North America, known for its rich cultural heritage, diverse landscapes, and significant contributions to art, cuisine, and music.