A common resource is best described as a resource where
A) there is a positive externality in consumption.
B) there is a negative externality in consumption.
C) there is a positive externality in production.
D) there is a negative externality in production.

Question

Quizplus · Accepted Answer

A common resource is best described as a resource where there is a negative externality in consumption. This occurs because individuals do not bear the full cost of their consumption, leading to overuse or depletion of the resource.

A Common Resource Is Best Described as a Resource Where