Common property resources have never been a serious problem in the efficient allocation of resources.

Question

Quizplus · Accepted Answer

Common property resources, which include public goods like air and water, have often faced problems in efficient allocation due to the tragedy of the commons - where individuals consume resources in excess leading to depletion of the resource. This is why regulation and management of common property resources is necessary for their efficient allocation.

Common Property Resources Have Never Been a Serious Problem in the Efficient