Which of the following properties is satisfied in case of “fishing in an ocean” ?
An open-access ocean fishery is difficult to exclude users from, while fish caught by one fisher cannot be caught by another. It is therefore non-excludable but rival, a…
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Which of the following properties is satisfied in case of “fishing in an ocean” ?
Answer and explanation
Correct answer B
An open-access ocean fishery is difficult to exclude users from, while fish caught by one fisher cannot be caught by another. It is therefore non-excludable but rival, a common-pool resource. Non-rival choices ignore stock depletion; excludable-and-rival would describe enforceable private access rather than the conventional open-ocean case. Non-excludable and non-rival — Not selected for the specific reasons given above. Non-excludable but rival — Selected; the independent derivation above supports this complete choice. Non-rival but excludable — Not selected for the specific reasons given above. Excludable and rival — Not selected for the specific reasons given above.
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UGC NET Economics