Chapter 25, Problem 3DQ

To determine

Whether government ownership is needed to protect various species from extinction.

Concept introduction:

Property rights:

Property rights are defined as the rights of a thing or a resource owned by an individual. When property rights are well defined, then it provides reasons to the owner to protect and care its resources.

Game reserves:

Game reserves are the areas where a certain species of animals are conserved. People and tourists are charged some amount for the purpose of enjoying such sights. The funds generated are used to save rare species.

Explanation:

• No, government ownership is not always needed to protect various species from extinction.

• The most important thing to protect the extinction of species is to assign property rights over various endangered species, so that they can be protected and harvested simultaneously.

• When a property right is assigned, then the individual has a reason to harvest the endangered species according to the need. They are not in a hurry rather the give enough time to the species to reproduce and have a large number of healthy species.

• Sometimes assigning property right is very difficult. For example, in case of pisci culture, there is a restriction or quota on the amount of fishing to ensure that it does not extinct. Game reserve is an another way that helps in protecting the rare species.

• Hence, there are several ways other than government ownership that could save the extinction of species.