-Production becomes more efficient if a common property is turned into a private property.

Question

Quizplus · Accepted Answer

Turning common property into private property often leads to more efficient production because private owners have a direct incentive to manage resources responsibly, invest in their improvement, and prevent overuse or depletion, unlike in common property scenarios where individual incentives can lead to the "tragedy of the commons."

-Production Becomes More Efficient If a Common Property Is Turned