Unit 4: Concept Matching Quiz

Common good = A resource that is non-excludable but rivalrous, meaning it gets overused. Toll good = A resource for which users are charged, but one user's consumption doesn’t reduce availability for others. Private good = A good that is excludable and rivalrous, meaning one person’s use prevents another’s. Public good = A good everyone can use without reducing its availability, and no one can be excluded from using it.

Tragedy of the Commons = Overuse of shared resources due to individual self-interest. Privatization = Assigning ownership of resources to individuals to prevent overuse. Mutual Coercion = Introducing regulations, penalties, or taxes to control resource use. Carbon Taxation = A pricing mechanism to internalize externalities caused by emissions.

Pollution in the Commons = The act of adding waste (like chemicals or pollutants) into shared resources. Local Rules = Rules created to govern the use of common goods that match local needs and conditions. Bottom-Up Governance (Ostrom) = A system where communities self-govern shared resources. Overfishing = An example of overexploitation of a common good.