Asked by Sheree Rouse on May 07, 2024
Verified
The consumption of a common resource by one person does not affect the availability of that resource to others.
Common Resource
A resource like air or water that is not owned by anyone, but its use is available to everyone, leading to potential overuse.
Consumption
Consumption refers to the act of using goods and services by households, contributing to the overall demand in an economy.
Availability
The condition of being accessible or obtainable.
- Understand the concept and characteristics of common resources.
Verified Answer
BK
Brian KunstMay 09, 2024
Final Answer :
False
Explanation :
This statement describes a non-rivalrous good, but many common resources are rivalrous, meaning the consumption by one person does indeed reduce the availability of that resource to others.
Learning Objectives
- Understand the concept and characteristics of common resources.