The Arkell Spring Grounds is a high yielding bedrock aquifer that produces numerous fresh water springs along the Eramosa River northeast of the village of Arkell.Any farmer with land above the aquifer can at present pump water out of it.Using economic terms,what is the aquifer
A)The aquifer is a public good that must be publicly owned to be used efficiently.
B)The aquifer is a private good that must be privately owned to be used efficiently.
C)The aquifer is a common property resource that will be overused if nobody owns it.
D)The aquifer is a club good that should be left as it is.

Question

Quizplus · Accepted Answer

The Arkell Spring Grounds aquifer is a common property resource as it is a shared resource that can be used by multiple farmers with land above it. However, without proper ownership or regulation, there is a risk of overuse and depletion of the resource, which is why it requires some level of management.

The Arkell Spring Grounds Is a High Yielding Bedrock Aquifer