When individuals consume more than their share and the cost of doing so is dispersed among all,the result is called:

Question

Quizplus · Accepted Answer

The scenario described is known as the Tragedy of the Commons, where individuals consume more than their fair share of a shared resource, leading to environmental degradation and/or depletion. The cost of their actions is distributed amongst all users of the resource, leading to a negative impact on the overall welfare of society.

When Individuals Consume More Than Their Share and the Cost