Question

A market situation where all participants have an incentive to exploit a resource yet no one can limit anyone else's access to that resource, resulting in over-exploitation, can be described as a(n)

Answer 1

Answer:

Tragedy of the Commons

Explanation:

The tragedy of the commons refers to a situation where the individual could access to the resources that are shared for their own interest.

So it is the market situation where the participant expolited the resources also there is no limited for accessing the resources

So the above term should be considered for the given situation