Common goods (fill in the blank questions).docx

**1. The \"Tragedy of the Commons\" describes a situation where individuals acting in their own self-interest can overuse and deplete a \_\_\_\_\_\_\_\_\_\_ resource, leading to negative outcomes for everyone.** **Answer**: shared **2. In a common resource setting, adding another cow to a shared p...

**1. The \"Tragedy of the Commons\" describes a situation where individuals acting in their own self-interest can overuse and deplete a \_\_\_\_\_\_\_\_\_\_ resource, leading to negative outcomes for everyone.** **Answer**: shared **2. In a common resource setting, adding another cow to a shared pasture benefits the herdsman with a gain of +1, but it creates \_\_\_\_\_\_\_\_\_\_ for everyone else as the pasture becomes overgrazed.** **Answer**: overuse / negative effects **3. \_\_\_\_\_\_\_\_\_\_ goods are easy to charge for, and one person's use does not limit another person's access, such as a subscription to Netflix.** **Answer**: Toll **4. A \_\_\_\_\_\_\_\_\_\_ good is characterized by non-excludability and rivalrous consumption, meaning it's hard to prevent others from using it, and usage by one person diminishes its availability for others.** **Answer**: common **5. According to Elinor Ostrom, communities can manage common resources by establishing local rules that match their specific needs and conditions. This approach is known as \_\_\_\_\_\_\_\_\_\_-based management.** **Answer**: community **6. \_\_\_\_\_\_\_\_\_\_ is a solution that assigns ownership of resources to individuals or companies, so they bear the full costs and benefits of their actions, such as carbon trading.** **Answer**: Privatization **7. One of the key challenges in using \_\_\_\_\_\_\_\_\_\_ coercion to manage the commons is the difficulty in enforcing regulations on a global scale due to the lack of a global government.** **Answer**: mutual **8. The problem with managing pollution is not about taking resources from the commons, but about \_\_\_\_\_\_\_\_\_\_ waste into it, such as pollutants, chemicals, or radioactive materials.** **Answer**: adding **9. One of Elinor Ostrom's principles for governing the commons is to ensure that those affected by the rules have the ability to participate in \_\_\_\_\_\_\_\_\_\_ the rules.** **Answer**: modifying **10. In community-based resource management, local rules need to ensure proportional equivalence between the \_\_\_\_\_\_\_\_\_\_ and benefits for each user.** **Answer**: costs **11. \_\_\_\_\_\_\_\_\_\_ is a pricing mechanism designed to internalize the externalities caused by emissions, where the costs of using the resource are taxed to the individual responsible for the emissions.** **Answer**: Carbon taxation **12. \_\_\_\_\_\_\_\_\_\_ institutions are difficult to scale globally because they are highly context-dependent, and what works for one community may not work for another.** **Answer**: Bottom-up