The fish in the ocean are
A) allocated efficiently because there are no limitations on entry into the ocean fisheries business.
B) scarce, but only because of the highly restrictive regulations imposed by various nations.
C) a commonly owned, open access resource and therefore they are often over-exploited.
D) privately owned and therefore they are allocated efficiently.

Question

Quizplus · Accepted Answer

Fish in the ocean are a commonly owned, open access resource, which often leads to over-exploitation due to lack of exclusive ownership and regulation, resulting in the "tragedy of the commons."

The Fish in the Ocean Are