Asked by Meghan Suchy on Jun 06, 2024
Verified
A traffic light would be considered a common resource.
Common Resource
A natural or man-made resource where one person’s use diminishes other people’s access or enjoyment, but it is difficult to exclude anyone from using it.
- Comprehend the principles of public goods, private goods, common resources, and their differences.
Verified Answer
MB
Miles BridgettJun 06, 2024
Final Answer :
False
Explanation :
A traffic light is considered a public good, not a common resource, because its use is non-excludable and non-rivalrous, meaning it's available for everyone to use without diminishing its availability to others.
Learning Objectives
- Comprehend the principles of public goods, private goods, common resources, and their differences.
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