Asked by Renee Mckinney on May 05, 2024
Verified
Instruments that can be used to control overuse of a common resource include
A) standards.
B) taxes.
C) privatizing the resource.
D) all of the above
Common Resource
A natural or man-made resource that is available to all but can be depleted if overused, such as fisheries, clean air, or public parks.
Overuse
The excessive use of a resource, leading to its depletion or degradation.
- Discern the features of commonly used resources, including their difficulties and potential remedies.
Verified Answer
ZK
Zybrea KnightMay 08, 2024
Final Answer :
D
Explanation :
Standards, taxes, and privatizing the resource are all instruments that can be used to control the overuse of a common resource. Standards can limit the amount of resource use, taxes can increase the cost of using the resource, thereby reducing demand, and privatizing the resource can lead to more efficient allocation and use through ownership incentives.
Learning Objectives
- Discern the features of commonly used resources, including their difficulties and potential remedies.