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.

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Chapter 26, 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.

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