The tragedy of the commons refers to:
a. the plight of the common people, who are doomed to low paying jobs and discrimination.
b. the fact that public resources are becoming scarce.
c. the idea that what we have in common is often not why we trade.
d. the idea that when everyone has free access to a resource, it will be overused and depleted.
Ans: d. the idea that when everyone has free access to a resource, it will be overused and depleted.
Economics
You might also like to view...
Refer to the figure above. What is the equilibrium employment if the labor demand curve is LD1 and the labor supply curve is LS1?
A) 5 units B) 20 units C) 15 units D) 10 units
Economics
In the figure above, a single-price unregulated monopoly sets a price equal to
A) a. B) b. C) c. D) d.
Economics