The Tendency for Shared or Jointly Owned Resources to Be

question 16

Multiple Choice

The tendency for shared or jointly owned resources to be wasted, or used in a less-than-optimal way, is known as ____.

• A) the bystander effect
• B) social loafing
• C) the commons dilemma
• D) the bad apple effect

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Definitions:

Supply

Supply is the total amount of a good or service available to consumers, often influenced by price, production costs, and market demand.

Quantity

The amount or number of a material or immaterial good considered as a unit or in total.

Technological Advance

Improvements in technology that increase productivity and efficiency, often leading to economic growth and new product development.

Expectation

The belief or anticipation about the way future events will unfold, influencing decision-making and behavior in the present.