Examlex
Which of the following statements is TRUE?
I. Overfishing results from fish being privately owned by profit-maximizing firms.
II. If a fisherman catches a lot of fish, he creates a negative externality because there are less fish to catch for everyone else.
III. There is no incentive for an individual to fish less simply to leave more fish for everyone else to catch.
Formal Operational
The stage of cognitive development in Piaget's theory, typically beginning around age 12, where individuals gain the ability for abstract thinking.
Alternatives
Different options or choices available in a given situation or problem-solving context.
Laptop
A portable personal computer with a screen and keyboard integrated into a single unit that can be easily moved and used in various locations.
Intuitive Reasoning
An effortless, automatic cognitive process that often yields quick judgments or solutions without reliance on formal logic or evidence.
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