During the Middle Ages, many villages had areas reserved for families to take their cows or sheep to graze. All families were welcome to use this land without charge. This situation likely led to a(n):
A) tragedy of the commons.
B) finite of proportions.
C) marketable public good.
D) exhaustive equilibrium.

Question

Quizplus · Accepted Answer

The situation described is typical of the tragedy of the commons, in which a shared resource (in this case, the grazing land) is depleted or destroyed because individuals act in their own self-interest rather than for the good of the group. This can result in overgrazing, soil erosion, and other environmental problems.

During the Middle Ages, Many Villages Had Areas Reserved for Families