The Tragedy of the Commons can be corrected by
A)conducting a cost-benefit analysis.
B)assigning property rights to individuals.
C)providing government subsidies for the resource.
D)making certain everyone in the economy has access to the resource.

Question

Quizplus · Accepted Answer

The tragedy of the commons occurs when a resource is shared by many individuals, leading to overuse and depletion. Assigning property rights to individuals provides an incentive to use the resource responsibly and efficiently because they have the ability to exclude others from using it. This creates an economic incentive for the individual to take care of the resource and prevents overuse. Cost-benefit analysis, subsidies and universal access do not solve the problem of overuse and do not address the issue of ownership, leading to potential overuse and depletion of the resource.

The Tragedy of the Commons Can Be Corrected by