Define and give an example of a common resource. Without government intervention, will people use this good
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 44% (9 reviews)
A common resource is a good that is rival in consumption but not excludable An example is fish in ...View the full answer
Answered By
Mehwish Aziz
What I have learnt in my 8 years experience of tutoring is that you really need to have a friendly relationship with your students so they can come to you with their queries without any hesitation. I am quite hardworking and I have strong work ethics. Since I had never been one of those who always top in the class and always get A* no matter what, I can understand the fear of failure and can relate with my students at so many levels. I had always been one of those who had to work really hard to get decent grades. I am forever grateful to some of the amazing teachers that I have had who made learning one, and owing to whom I was able to get some extraordinary grades and get into one of the most prestigious universities of the country. Inspired by those same teachers, I am to be like one of them - who never gives up on her students and always believe in them!
5.00+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Projects vary in the level of visibility or scrutiny they entertain. What are some of the causes of such variation? Do you think projects in your track have such variability? If so, how do you think...
-
Define and give an example of a public good. Can the private market provide this good on its own? Explain.
-
Define de-individuation and give an example of this effect.
-
Consider the following the flat database table: FName LName Address California Florida New Jersey California Mark Maria John Mark John Smith Cruise Hareson Smith Hareson Course code TM366 TM366 TM112...
-
Let h: Rn Rm be a homomorphism. (a) Show that the image under h of a line in Rn is a (possibly degenerate) line in Rm. (b) What happens to a k-dimensional linear surface?
-
Toyco, a retail toy chain, honors two bank credit cards and makes daily deposits of credit card sales in two credit card bank accounts (Bank A and Bank B). Each day, Toyco batches its credit card...
-
Identify requirement categories.
-
The following partial list of accounts and account balances has been taken from the trial balance and the adjusted trial balance of the Barker Company: Required Prepare the adjusting entry that...
-
How many times will each account on the trial balance be used within the financial statements?
-
GMC wants to decide whether to retool the Lyra and Libra plants. In addition, GMC wants to determine its production plan at each plant in the coming year. Based on the previous data, formulate a MILP...
-
What is costbenefit analysis of public goods? Why is it important? Why is it hard?
-
Think about the goods and services provided by your local government. a. Using the classification in Figure, explain which category each of the following goods falls into: Police protection Snow...
-
A small manufacturing company could expand its operation by adding new products. Any or all of the products shown below can be added. If the company uses a MARR of 15% per year and a 5-year project...
-
Why is the government sometimes a part of the problem of coordination failure rather than the solution? Does this make the problem hopeless? What could be done in this case?
-
Briefly, what major relationships can you identify between Sens capabilities approach on one hand and SDGs on the other hand? To what extent is the SDG list close to Sens framework? How does it...
-
Can you think of additional examples of complementarities from everyday life? Does the S-shaped curve of Figure4.1 shed any light on them? Do you think your examples help as a metaphor for economic...
-
Modern economic models sometimes require strong assumptions. What do you think are some of the trade-offs between a more rigorous, logically cohesive model with strong assumptions but clear...
-
What forces may be at work in giving the Sustainable Development Goals, like the Millennium Development Goals before them, such a high profile in international economic relations?
-
In a Java interface, what does the ... notation (an ellipsis) in the parameter specification OpenOption... options say about the arguments you should supply to the constructor or method?
-
Complete the following acid-base reactions: (a) HCCH + NaH
-
Which statements about the following Twins class are true? (Choose three.) A. The class fails to compile because of the write() method. B. The class fails to compile because of the publish() method....
-
How is it that a tax creates a deadweight loss by decreasing quantity, but a subsidy creates a deadweight loss by increasing quantity?
-
Lets apply the economics of taxation to romantic relationships. a. What does it mean to have an inelastic demand for your boyfriend or girlfriend? How about an elastic demand? b. Sometimes...
-
a. In the opening scene of the classic Eddie Murphy comedy Beverly Hills Cop, Axel Foley, a Detroit police officer, is stopping a cigarette smuggling ring. Of course, smugglers dont pay the tax when...
-
1. Electric potential is given by V=6x-8xy-8y+6yz - 4z Then magnitude of electric force acting on 2C point charge placed on origin will be :- (1) 2N (2) 6N (3) 8N (3) 8N (4) 20 N 2. Figure shows...
-
17. A concave mirror produces a real image 10mm tall, of an object 2.5mm tall placed at 5cm from the mirror. Calculate focal length of the mirror and the position of the image. 18. An object is...
-
23. A convex mirror used for rear view on an automobile has a radius of curvature of 3m. If a bus is located at 5m from this mirror, find the position, nature and magnification of the image. 24. An...
Study smarter with the SolutionInn App