If the use of a common resource is not regulated,Group of answer choicesno one can enjoy it.it will tend to be underused.property rights will be clearly defined.it will be overused.
Question
If the use of a common resource is not regulated,Group of answer choicesno one can enjoy it.it will tend to be underused.property rights will be clearly defined.it will be overused.
Solution
The correct answer is "it will be overused." This concept is known as the Tragedy of the Commons. When a resource is common and not regulated, individuals tend to overuse or deplete it because they gain the full benefit of their own use, but the cost is spread among all users. This leads to overuse and potential depletion of the resource.
Similar Questions
Which of the following is not one of the points made in "Tragedy of the Commons"?Group of answer choicesIndividual property rights play a crucial role in resource preservation.Individual property rights tend to be tragically abused by the owners.Common property will tend to be overexploited.Common property makes its users try to use as much as possible and as soon as possible.
When property rights are not well established,Group of answer choicesgovernment resources are used inefficiently.the distribution of private goods is unfair.private goods become public goods.markets fail to allocate resources efficiently.
occur when property rights are not clearly defined.Multiple choice question.ExternalitiesShortagesSurplusesProfits
________ is the use of other's property for a discussed period of time and with the permission of the owner.
Briefly discuss the resources based on ownership
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