Which of the following would economists label as an example of the "tragedy of the commons?"
A)The use of pesticides on private farm land.
B)The use of growth hormone on cattle.
C)The over-fishing of the oceans.
D)The neighbor who does not mow his yard.

Question

Quizplus · Accepted Answer

The tragedy of the commons refers to a situation where individuals overuse a common resource, such as a fishery or grazing land, because they do not bear the full cost of their actions. The over-fishing of the oceans is a classic example of the tragedy of the commons, as fishermen may continue to catch fish even when the population of fish is threatened due to their own individual incentives to catch as many fish as possible.

Which of the Following Would Economists Label as an Example