One Way to Alleviate the Tragedy of the Commons Is

question 44

Multiple Choice

One way to alleviate the tragedy of the commons is to

• A)eliminate production quotas for using the common resource.
• B)make the resource private property.
• C)allow all individuals to use the common resource free of charge.
• D)distribute common resources among those individuals who really need the resource free of charge.
• E)set a price of $1 per unit of the common resource because it is an affordable price.

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Definitions:

Union Shop

All employees must join the union, usually within 30 days after they are hired.

Closed Shop

An employer may hire only union members; outlawed under the Taft-Hartley Act.

Craft Union

A labor organization representing workers who practice the same craft or trade, aiming to negotiate better wages, conditions, and rights for its members.

Arbitrator

A neutral third party who resolves disputes between two or more parties outside of the court system, usually in a binding decision.