Asked by Shelby Place on May 31, 2024
Verified
What can the government do to solve the problem of excessive use of common resources?
Excessive Use
The overuse or misuse of a resource or product, often leading to depletion or damage of the resource and negative externalities.
Common Resources
Natural or man-made resources that are not owned by anyone, cannot be excluded from use, and are available for use by more than one person.
- Acquire knowledge on how the government intervenes in matters concerning common resources and public goods.
Verified Answer
CH
Corey HillmanJun 04, 2024
Final Answer :
Government can impose regulations or taxes to reduce consumption of a common resource. In some cases, government can transform the common resource into a private good.
Learning Objectives
- Acquire knowledge on how the government intervenes in matters concerning common resources and public goods.
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