Question

An association in a town shares a lake. Only the association’s members are allowed to use the lake for fishing. Which property rights regime is the association enforcing?
A. private property regime
B. public property regime
C. open access property regime
D. common property regime

Answer 1

Private Property Regime !

Answer 2

The correct option is D.
Common property regime refers to a specific social arrangement in which a particular common pool resource is regulated in term of preservation, maintenance and consumption. Typical common pool resources include: lakes, forest,etc. They are usually resources that can be easily over exploit.