At the local park there is a playground for children to use.While anyone is allowed to use the playground,it is often very busy,reducing the enjoyment of many of the children who use it.The playground is a
A) private good.
B) natural monopoly.
C) common resource.
D) public good.

Question

Quizplus · Accepted Answer

The playground is a common resource because anyone is allowed to use it, but its use is rivalrous (i.e. if one child is using a swing, another child cannot use the same swing at the same time). The overuse of the resource (i.e. too many children using it at once) leads to reduced enjoyment for everyone. This is a classic example of the tragedy of the commons.

At the Local Park There Is a Playground for Children