The Lack of Property Rights That Leads to the Overuse

question 16

Multiple Choice

The lack of property rights that leads to the overuse of natural resources is known as:

• A) biodiversity.
• B) the tragedy of the commons.
• C) sustainable development.
• D) pollution havens.
• E) none of the above

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Definitions:

OECD

The Organisation for Economic Co-operation and Development, an international organization that works to build better policies for better lives among its member countries.

Tax Revenue

The financial resources acquired by governments via taxation.

Payroll Taxes

Taxes imposed on employers and employees, calculated as a percentage of the salaries that employers pay to their staff.

Personal Income Taxes

Taxes imposed on individuals or households based on the income they earn over a certain period, often progressive in nature.