Asked by
Jabes37 Gonzalez
on Nov 17, 2024
Verified
The Tragedy of the Commons results when a good is
A) rival in consumption and not excludable.
B) excludable and not rival in consumption.
C) both rival in consumption and excludable.
D) neither rival in consumption nor excludable.
Tragedy of the Commons
A situation where individual users, acting independently according to their own self-interest, deplete or spoil shared resources, leading to overall degradation.
Rival In Consumption
A characteristic of a good whereby one person's use diminishes the ability of another person to use the same good.
- Recognize prevalent resources and comprehend the concept of the Tragedy of the Commons, including potential approaches to alleviate its impacts.
Verified Answer
BC
Learning Objectives
- Recognize prevalent resources and comprehend the concept of the Tragedy of the Commons, including potential approaches to alleviate its impacts.