What role do property rights play in creating common property resources? Why are common property resources subject to market failure due to non-excludability?

Q: Discuss the role of Natural Resources in external environment?

A: The role of Natural resources in an external environment can be explained as follows:  The natural…

Q: Sitting near someone who smokes exposes you to "secondhand smoke;" therefore smoking creates a(n) (…

A: Externality is the benefit or the cost which is borne by the third party who is not involved in the…

Q: What are ecosystem services? Give several examples. Describe ways in which some economists have…

A: The monetary value of an asset or service is the amount of money that would be received if it were…

Q: Which is more difficult for a company to accomplish well, an analysis of external opportunities and…

A: A firm needs to analyze the strengths, weaknesses, threats, and opportunities firm. This can be done…

Q: Externality is a problem that create market failure. How the externalities can be internalized to…

A: Externality causes market failure.Externality may be positive or negative and its effect causes…

Q: What are the two key characteristics of a public good?  What is an example of a public good?  What…

A: Economics is the study of how individuals divide up finite resources between individual and group…

Q: why do externalities make market outcomes inefficient?

A: A third party, who is not directly related with the exchange or production of goods and services…

Q: Diagram, show how external effects can change supply and demand in electricity generation.

A: Demand is the utility for a good or service of an economic agent relative to a budget constraint.…

Q: Explain why economists might say that the market for higher education demonstrates externalities and…

A: Higher education when attained by students,gives rise to employment. Therefore according to…

Q: What is an externality?  How do they affect market efficiency?  If an externality is present,…

A: Externality is an economic concept that describes the costs or benefits that a third party bears…

Q: How do hunters and gatherers view rights to land?

A: Hunters & Gatherers;   Hunter-gatherers normally are little gatherings and will in general…

Q: Explain why the private ownership is essential to individuals, firms, and the market economy?…

A: Private goods are those goods whose consumption by one person affects the availability of another…

Q: Examine the role of property rights within the context of public goods.

A: Introduction Property rights play an essential role in the context of public goods. Property rights…

Q: Should a firm exceed the minimum legal limits of government imposed environmental regulations and be…

A: Externality refers to the implication of one's action on the actions of others. For example,…

Q: Consider the main approaches to environmental policy— lawsuits, command-and-control laws and…

A: Any measures being taken by the government or any other private organization with respect to the…

Q: List any two of the factors that can help communities manage a commons.

A: The ‘Tragedy of Commons’ is a situation that arises due to the over-use of common resources. The…

Q: Carefully explain the terms 'non-rivalry' and 'non-excludability'. Provide an example of a good with…

A: Non-excludability means that no individual can be excluded from using the goods and non-rivalry…

Q: Describe the connection between urban ecology and sustainable cities. List three actions a city can…

A: Urban ecology may be defined as the study of the impact of the environment and urbanization on the…

Q: Explain the characteristics of local public goods and outline how the efficient quantity of local…

A: A non-excludable and non-rivalrous good is referred to as a public good in economics. Users cannot…

Q: Is environmental pollution a failure of the free market system?

A: Yes, environmental pollution is an outcome of free market system failure.

Q: Should a firm exceed the minimum legal limits of government imposed environmental regulations and be…

A: No, a firm should not exceed the minimum legal limits of government imposed environment regulations…

Q: What are the socially optimal quantity and price?

A: Ans 1- Social optimum quantity is the situation where its marginal social benefit is equal to…

Q: Common resources are goods that are and Select the correct answer below: non-excludable; rivalrous…

A: Answer is given below

Q: After Nike built a plant in a rural area, it discovered that families were taking their children out…

A: The firm starts its branch in a remote area and that starting of the new branch leads to the locals…

Q: Discuss urban ecology and the pursuit of sustainable cities

A: When talking about the term 'urban', it relates to a place where a large population lives in a…

Q: a) Examine how the values of natural resources influence their management

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Provide three examples of public goods and services in your hometown. Explain how each is non-rival…

A: Generally, a public good or service that are available to all the members of a society by the…

Q: Which is an example of reducing the amount of waste created in the environment?

A: Environmental economics is a branch of economics that studies how people interact with the natural…

Q: What actions does economic theory suggest to help alleviate the tragedy of the commons? What are…

A: The tragedy of the commons is an economic situation in which everyone has an incentive to consume a…

Q: Why is it very easy to overuse our natural resources?

A: (Q) Why is it very easy to overuse our natural resources?

Q: The tragedy of the commons is the idea that:        society has a tendency to overuse and thus abuse…

A: An economic issue in which every person has a benefit to consuming a resource, but at the cost of…

Q: Discuss how the government uses tax credits, direct payments, and deficiency payments to subsidize…

A: A subsidy is a monetary payment from the government to an enterprise. It causes the price of…

Q: Why do externalities lead to inefficient outcomes? Explain why allocating property rights might help…

A: Market refers to a place where two parties, the buyers and sellers meet and interact with each other…

Q: Define the concepts of public good, non-excludable, non-rival, and tragedy of the commons.

A: Define the concepts of public good, non-excludable, non-rival, and tragedy of the commons.

Q: Why should the government let firms share technologies with other firms to ensure an efficient…

A: National prosperity is made, not acquired. It doesn't outgrow a country's regular blessings, its…

Q: What is the definition of public goods? Why does the private market not produce the efficient…

A: Public goods are the goods that are produced by the government and available to everyone. It has the…

Q: xplain reasons in support of the Canadian Government acting as the ‘guardian of business’ and…

A: The Canadian authorities is the federal authorities of Canada, that's accountable for governing the…