The tragedy of the commons refers to a situation where:
A)commoners lack understanding about resource use.
B)individual incentives and collective incentives are at odds.
C)technology degrades the commons.
D)there are no externalities.

Question

Quizplus · Accepted Answer

The tragedy of the commons occurs when individual incentives to exploit a shared resource for personal gain are at odds with the collective interest in preserving the resource for future generation. This can lead to overuse and depletion of the resource, causing harm to all users in the long run. Choices A, C, and D are not accurate descriptions of the tragedy of the commons.

The Tragedy of the Commons Refers to a Situation Where