Question

When town commons were broken up into lots each farmer had to bear all the costs and all the benefits of his choices about how many animals to graze. (Enter one word.)

Answer 1

When town commons were broken up into private lots each farmer had to bear all the costs and all the benefits of his choices about how many animals to graze

What is private lots?

• When non-governmental legal entities own property, it is referred to as private property. Private property can be distinguished from collective or cooperative property, which is owned by a collection of non-governmental enterprises, and from public property, which is owned by a state agency.
• Capitalism, an economic system based on the private ownership of the means of production, is built on the principle of private property. Different political ideologies draw different distinctions between private and personal property, with socialist perspectives drawing a clear line between the two. Private property is a legal concept that is established and upheld by a nation's political system.

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