Common resources are not individually owned, which creates the incentive for their overuse and overconsumption.

Question

Quizplus · Accepted Answer

Since common resources are not individually owned, there is no one who would be responsible for regulating and managing their use. This creates a tragedy of the commons, where individuals may exploit and consume the resource without considering the long-term effects of their actions on the resource and others who may need it. This leads to overuse and depletion of the resource, which ultimately harms everyone who depends on it.

Common Resources Are Not Individually Owned, Which Creates the Incentive