Tragedy of Commons Refers To

Tragedy of commons refers to:

A) a problem that is created when everything is privately owned.
B) a situation when the resources are owned by the government and the common people have limited access to them.
C) a problem that arises when government takes incorrect measures which adversely affect common people.
D) a problem that is created when everyone has an access to a particular resource.
E) the adverse situation that arises when the government fails to take adequate measures to solve common problems.