The commons problem refers to:
a. a problem that arises when everything is privately owned.
b. a situation when the resources are owned by the government and the common people have limited access to them.
c. a problem that arises when government takes incorrect measures which adversely affect common people.
d. a problem that arises when everyone has access to a particular resource.
e. the adverse situation that arises when the government fails to take adequate measures to solve common problems.
d
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Which of the following is FALSE?
a. The Robinson-Patman act is a part of the antitrust laws b. Under the Robinson-Patman act it is illegal to give a price discount on goods sold to another business c. Under the Robinson-Patman act, it is illegal to give a price discount on goods sold to final customers d. Under the Robinson-Patman act, the only discount allowed is the one based on difference in servicing costs of different groups
The World Bank was created to help finance economic development in poor countries
a. True b. False Indicate whether the statement is true or false
When dealing with strategic trade policy, one practical problem for government is the likelihood of retaliation by the foreign government
a. True b. False Indicate whether the statement is true or false
When markets open up to international trade, we know that total surplus will rise
a. True b. False Indicate whether the statement is true or false