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Indu Dhiman posted an Question
May 18, 2021 • 18:15 pm
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30 points
30 points
- UGC NET
- Economics
Question: 30/50 unit solved papers (1-10) - economics in the case of open resourcee a takes place due to lack of (a) externality, regulation (b) free rides prob
Question: 30/50 Unit Solved Papers (1-10) - Economics In the case of open resourcee a takes place due to lack of (A) externality, regulation (B) free rides problem, property rights (C) market failure, property rights (D) External benefit, rivalry in consumption externality, regulation free rides problem, property rights market failure, property rights External benefit, rivalry in consumption View Solution In the case of open resource a market failure takes place due to lack of property rights.
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Reshma gupta Best Answer
in this question you can see that it is talking about open resource. open resource means a resource for everyone. so it would have a externality it can be positive or negative and also free for everyone. so we can neglect 1,2 and 4 answers directly. because it is not due to lack of anything but it is a property of open resources. market failure occurs when property rights are not well defined and there is no record of costs and benefit . so answer should be market failure and propert rights.