The story about the mass slaughter of buffalo in the United
States, which allowed the products to be exported during the
1870s, is an example of:
A)the firstmover principle.
B)the principle of comparative advantage.
C)the tragedy of the commons.
D)export subsidies.

Question

The story about the mass slaughter of buffalo in the United
States, which allowed the products to be exported during the
1870s, is an example of:
A)the first­mover principle.
B)the principle of comparative advantage.
C)the tragedy of the commons.
D)export subsidies.

Quizplus · Accepted Answer

The mass slaughter of buffalo in the United States, which allowed the products to be exported during the 1870s, is an example of the tragedy of the commons. This phenomenon occurs when a shared resource, such as the buffalo in this case, is overexploited due to multiple individuals or groups having access to it without any regulation or management. As a result, the resource becomes depleted and eventually extinct.

The Story About the Mass Slaughter of Buffalo in the United