Examlex
According to empiricism:
Private Resource
Resources owned by individuals or companies, not by the government or public institutions.
Incentives
Factors, monetary or non-monetary, that motivate individuals to perform actions that they might not otherwise choose to do.
Efficiently
Achieving a goal or producing output with the minimum amount of waste, expense, or unnecessary effort.
Common Resource
A resource like air or water that is accessible to all but is susceptible to overuse and depletion because it is not privately owned.
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