Which Is True

question 57

Multiple Choice

Which is true?

• A) In an influential 1968 article in Science, Hardin affirmed that commons dilemmas would in the short-to-moderate term be harmful to the planet, but in the long term, the human capacity to adapt would prevail.
• B) Lloyd (1937/1968) identified a serious flaw in Smith's (1776/1976) economics theory-the flaw being that Smith assumed that natural resources are virtually unlimited.
• C) When the supply of a resource seems small or limited, individuals seem to feel free to exploit the resource as much as possible.
• D) Lloyd recognized that many resources are, in fact, infinite and unlimited.

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Definitions:

Handsome Income

A significantly large amount of money earned, often implying higher than average.

Heuristic Bias

Cognitive shortcuts used by individuals that can lead to systematic errors or biases in judgment and decision-making.

Availability

The state of being easily obtainable or accessible when needed.

Anchoring

A cognitive bias that describes the tendency to rely too heavily on the first piece of information offered (the "anchor") when making decisions.