What is common property? What does common property have to do with externalities?
What will be an ideal response?
Common property is property that is owned by everyone, so no one can be excluded from using it. There is a tendency to overuse common property, which means that people can use it and pass some of their costs on to others. That is, externalities are likely to be associated with common property.
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Research shows that increases in educational attainment leads to higher
A. investment in the stock market. B. per capita GDP. C. prices of goods and services. D. productivity growth rates.
Which of the following is FALSE about services trade for India and China?
A) China exports more services than India does. B) India has a trade surplus in services. C) China has a trade surplus in services. D) India trades primarily information services and other business services.
The two basic types of government regulation are
A) regulation of natural monopolies and regulation of cartels. B) economic regulation and industry regulation. C) social regulation and labor law. D) social regulation and economic regulation.
Employment tends to rise when
A. labor productivity falls. B. aggregate output rises. C. unemployment rises. D. aggregate output falls.