A market situation where all participants have an incentive to exploit a resource yet no one can limit anyone else's access to that resource, resulting in over-exploitation, can be described as a(n) __________.

Question

Quizplus · Accepted Answer

The "Tragedy of the Commons" describes a situation where individual users, acting independently according to their own self-interest, behave contrary to the common good of all users by depleting or spoiling that resource through their collective action.

A Market Situation Where All Participants Have an Incentive to Exploit