The "tragedy of the commons" refers to the phenomenon where
A)individuals are free riders.
B)people overuse a common resource.
C)people do not internalize an externality.
D)there is rivalry in consumption.

Question

Quizplus · Accepted Answer

The tragedy of the commons occurs when people overuse a common resource that is shared among many individuals. This leads to depletion of the resource and a negative outcome for everyone involved. Examples of common resources that can be subject to the tragedy of the commons include fisheries, forests, and grazing lands.

The "Tragedy of the Commons" Refers to the Phenomenon Where