Which of the following statements is not correct?
A) A free rider is a person who benefits from something for which he or she does not have to pay.
B) The creation of knowledge is a public good.
C) The Tragedy of the Commons illustrates the underuse of a common resource.
D) A gasoline tax is an imperfect solution to the problem of traffic congestion on public roads.

Question

Quizplus · Accepted Answer

The Tragedy of the Commons illustrates the overuse, not underuse, of a common resource. It is a situation where multiple individuals, acting in their own self-interest, use a shared resource, such as a pasture, at a rate that exceeds the sustainable level, ultimately leading to depletion and degradation of the resource.

Which of the Following Statements Is Not Correct