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1. Water is a renewable natural resource and public good. A. However, most rivers, ponds, lakes and aquifers are common property. B. Hence, excluding others from using water is not possible and the results are competition, over extraction and conflict. C. But the ownership right on land bestows a private character on water. D. Therefore, water rights are not clearly defined and the right to using the resources is not protected. 6. However, cooperation has a greater role in achieving social harmony in water allocation and increasing human welfare. |
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Answer» 1. Water is a renewable natural resource and public good. |
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