The Red List of Threatened Species,compiled by the World Conservation Union,gives details of 11,167 species of animals and plants that are known to be at risk of extinction.Among the 10 animals that are of most concern,because of their commercial value,is the hawksbill sea turtle,which is threatened because of the demand for its beautiful shell.The species is the sole source of "tortoiseshell" used to make curios and jewelry.Which of the following most closely explains/supports the information given above?
A)Resources that generate external benefits are always overpriced.
B)Resources are overused if private property rights over the resources are not ensured.
C)Government intervention in the market for tortoiseshell will fail to rectify this market imperfection.
D)A tax imposed by the government on the producers of curios will definitely prevent the extinction of hawksbill sea turtles.

Question

Quizplus · Accepted Answer

The information given above highlights the issue of overuse and exploitation of a resource (hawksbill sea turtle) due to lack of clear property rights. The demand for the turtle's shell is driving its population towards extinction, indicating the failure to ensure private property rights over the resource. Thus, option B best explains the situation. Option A does not connect with the information given, and Option C is not supported or explained by the information. Option D suggests a solution that may or may not be effective and is not indicated as a way to prevent extinction in the given context.