When No One Owns a Particular Resource

question 111

Multiple Choice

When no one owns a particular resource

• A) property rights are clearly defined.
• B) individuals have legal recourse for any damages caused to their resource.
• C) no one has any incentive to consider externality spillovers associated with that resource.
• D) positive externalities will arise.

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Definitions:

Spongy Layer

Part of a leaf's mesophyll, characterized by loosely arranged cells with air spaces, facilitating gas exchange.

Shock Absorber

A device in vehicles and machinery designed to dampen and absorb shock impulses, providing a smoother ride or operation.

Gas Exchange

The process by which oxygen is taken into the body and an exchange of carbon dioxide is expelled, primarily occurring in the lungs.

Leaf Primordia

Young, undeveloped leaves that are in the earliest stages of growth, found in the buds of plants.