An association in a town shares a lake. Only the association’s members are allowed to use the lake for fishing. Which property r
ights regime is the association enforcing? A.
private property regime
B.
public property regime
C.
open access property regime
D.
common property regime
Property rights determines how an economic good or a resource is used and owned. All the things whether intangible or tangible, over which owners have exclusive legal rights such as money, land, building, patents, copyrights etc. are called private property. It can be transferred as sale of gift or with owner's consent. Resources claimed and utilised by anyone, comes under open access property regime where as resources which are common property are jointly owned by few individuals who can exclude others from using the property. Public property is dedicated to public use and it is a subset of state property.
This type of relationship is where all organisms involved benefit from the interaction. The relationship can be obligatory (where the organisms cannot live independent of each other) or can be facultative (where they can also live independent of each other). In lichen, this relationship is facultative.
