Corporations Can Contribute to the Global Tragedy of the Commons

question 101

True/False

Corporations can contribute to the global tragedy of the commons by not pumping pollutants into the atmosphere or dumping them in oceans or rivers.

---

Definitions:

Income Elasticity

A measure of how the quantity demanded of a good responds to a change in consumers' income, indicating the good's necessity or luxury status.

Price Inelastic

Price inelastic refers to a situation where the demand for a good or service is relatively unaffected by changes in its price, indicating that consumers continue to purchase the product even if its price rises or falls significantly.

Income Elasticity

A measure of how the demand for a good or service changes in response to changes in income.

Price Inelastic

Refers to a situation where demand or supply for a product is relatively unresponsive to price changes.