Which of the following achieves the efficient use of a common resource?
A)property rights,production quotas,and individual transferable quotas
B)property rights,individual transferable quotas,and subsidies
C)property rights,production quotas,and subsidies
D)individual transferable quotas and copyrights
E)production quotas,individual transferable quotas,and copyrights

Question

Quizplus · Accepted Answer

Property rights, production quotas, and individual transferable quotas are all mechanisms that can be used to ensure the efficient use of a common resource. Property rights allow individuals or groups to have exclusive use or access to the resource, encouraging them to invest in its productivity and conservation. Production quotas limit the overall level of resource use, preventing over-extraction or depletion. Individual transferable quotas allow individuals or groups to buy and sell permits to use the resource, ensuring that it is allocated most efficiently to those who value it most. Subsidies can distort the market and encourage overuse, and copyrights are not applicable to physical resources.

Which of the Following Achieves the Efficient Use of a Common