Why does excessive fishing occur?
a) Fishermen are concerned about the population dynamics of fish biomass, not current harvest rates.
b) Fishermen have other marketable skills and do not fear exploitation of fish reserves.
c) Each individual fisherman has little incentive to maintain the species for the next year.
d) Fishermen rely on government managers to worry about fish populations.
Ans: c) Each individual fisherman has little incentive to maintain the species for the next year.
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A) consumer; producer B) consumer; consumer C) producer; producer D) producer; total E) total; consumer
When you make a routine, everyday decision it is called
a. habit b. programmed c. nonprogrammed d. geocentric
When the market price is established where demand and supply curves intersect:
A) consumer buying tends to exceed the quantity producers supply. B) the quantity consumers demand generally fall short of the quantity producers supply. C) the quantity demanded and the quantity supplied are equal. D) all of the above will result.
When policy makers base their actions on a rule there is
A) rationalization policy making. B) passive policy making. C) rational expectations policy making. D) active policy making.