Economics · Public Goods and Externalities
Which of the following best explains why biodiversity conservation constitutes a 'public good' problem at the global level?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Biodiversity benefits are non-excludable globally and non-rival, leading to free-riding by nation-states✓
- 2Biodiversity is traded in international markets and hence subject to normal market pricing
- 3Biodiversity conservation has only bequest values and no current use value
- 4The tragedy of the commons does not apply to biodiversity since it is not a common pool resource
Correct answer
Biodiversity benefits are non-excludable globally and non-rival, leading to free-riding by nation-states
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