_____ occurs when a resource held jointly by all,but owned by no one,is overused by individuals,resulting in its degradation.

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The tragedy of the commons refers to the situation where a commonly held resource is overused and degraded because no one has ownership or control over it. This term was coined by Garrett Hardin to describe the depletion of common grazing land by farmers and has since been applied to other examples such as overfishing in the oceans or pollution of the atmosphere. Social loafing refers to the phenomenon where people exert less effort in a group setting than individually, guerilla attack is an act of unanticipated violence, a deadweight loss refers to the inefficiency that arises when the equilibrium in a market is not optimal and capital deepening refers to the process of increasing the amount of capital per worker to boost productivity.

_____ Occurs When a Resource Held Jointly by All,but Owned