Overuse of a Common Resource May Be Avoided by All

question 144

Multiple Choice

Overuse of a common resource may be avoided by all of the following methods except

• A) charging for the use of a common resource.
• B) issuing tradable permits for the use of a common resource.
• C) government taking over ownership of all private common resources.
• D) setting quotas or legal limits on the quantity consumed of the common resource.

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Definitions:

Contract Law

A body of law that governs the creation and enforcement of agreements between parties.

Uniform Commercial Code

A comprehensive set of laws governing all commercial transactions in the United States, aiming to standardize laws across the states.

Case Law

Law established by previous court decisions and judicial interpretations rather than by legislative statutes.

Legal Object

A legal object in contractual terms refers to the subject matter of the contract that must be lawful and not against public policy.