Question

The tragedy of the commons results when​ ___________. A. too many public goods are provided.B. common pool resources are overused. C. people are excluded from public goods. D. common pool resources are underused. Which of the following best illustrates the tragedy of the​ commons? A. Sneaking into a concert without paying for a ticket. B. Donating to the World Wildlife Fund. C. Overfishing in public waters. D. Buying a Nintendo DS instead of funding the public library.

Answer 1

Answer:

The correct answers are:

1)  "B": common pool resources are overused.

2) "C": overfishing in public waters.

Explanation:

1) The tragedy of the commons is a resource-based economic problem that takes place when given resources are overexploited without a clear renewable plan or government restrictions that avoid the extinction of those resources. Those resources are usually scarce.  

2) Overfishing in public waters is a clear example of the tragedy of the commons. Certain types of fish are scarce. The situation worsens when there are no clear limits imposed on fishermen who tend to overexploit fishing for economic purposes. A real-life example of this is the collapse of the North Atlantic Cod fisheries on Canada's eastern coast.