The creation of new property forms (such as privatizing a public beach) is one answer to __________ because it would reduce _________ .
A) government failure; market failure
B) market failure; government failure
C) the creation of third parties; public choice
D) dealing with externalities; the number of third parties
E) the inefficiencies of the market; special interests

Question

Quizplus · Accepted Answer

Creating new property forms like privatizing a public beach addresses externalities by assigning property rights, which can reduce the number of third parties involved in managing or using the resource.

The Creation of New Property Forms (Such as Privatizing a Public