Examlex
For a unit-level activity, the total level of activity performed varies
Tragedy of the Commons
A situation where individuals, acting independently and rationally according to their own self-interest, deplete or spoil shared community resources through their collective action.
Property Rights
Property Rights refer to the legal entitlements that determine the ownership and use of resources, including land, buildings, intellectual property, and personal possessions.
Individual Transferable Quotas (ITQs)
A regulatory tool used in fisheries management allowing the capture of a certain amount of seafood, with the quotas being tradable among individuals or companies.
Promote Efficiency
The act of enhancing the performance and productivity of a system or process, reducing wastage of resources.
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