Which of the Following Would Economists Label as an Example

question 43

Multiple Choice

Which of the following would economists label as an example of the "tragedy of the commons?"

• A)The use of pesticides on private farm land.
• B)The use of growth hormone on cattle.
• C)The over-fishing of the oceans.
• D)The neighbor who does not mow his yard.

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Definitions:

Performance Monitoring

The systematic process of tracking, analyzing, and improving an individual's or organization's performance over time.

Management By Objectives

A performance management approach where managers and employees work together to set, record, and monitor goals for a specific period, aiming at achieving organizational objectives.

Self-Management

The ability to understand oneself, exercise initiative, accept responsibility, and learn from experience.

Supervisory Control

A level of management that involves overseeing the performance and activities of employees, ensuring that tasks are completed effectively and efficiently.