A group of people moves onto a forested piece of land (which has no established owner), cuts down all the trees, and acquires all the lumber on the land. Thereafter, the land is farmed until all the mineral properties of the soil are depleted. Ultimately, the land becomes a barren desert property. This is an example of:

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The scenario describes a tragedy of the commons, where there are no established property rights leading to the overuse and depletion of a resource (in this case, the forest and soil). The lack of ownership leads to a situation where the group of people can exploit the resource for their own benefit without considering the long-term consequences for the land. This ultimately leads to environmental degradation and a loss of productivity on the property.

A Group of People Moves onto a Forested Piece of Land