Question

Taragedy of commons In the tragedy of commons why would someone overuse a resource?

Taragedy of commons

In the tragedy of commons why would someone overuse a resource?

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1
  • Tragedy of commons refers to an economic problem in which people overuse a resource which decreases the quantity of good consumed by the other people.
  • People overuse a resource for their personal benefits or gain, which increases the demand for that good and the supply decreases.
  • They neglect the need of other people in the society for that resource and overuse them until it is no longer available for others to utilise it.
  • This unethical act of individuaIs leads to a net social welfare loss as people overuse a resource to reap out all the benefits by neglecting the well being of a society and other people face shortages during the consumption of that resource.
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The tragedy of the commons is when: Private property owners rotate their land to avoid overgrazing....
The tragedy of the commons is when: Private property owners rotate their land to avoid overgrazing. People share environmental resources, overuse them, and eventually deplete them. Private property owners overgraze their land. The royal shakespeare company performs hamlet in Sam Houston park
Explain “Tragedy of the Commons” by giving an example.
Explain “Tragedy of the Commons” by giving an example.
Discuss the idea of the commons and describe the tragedy of the commons. At what point...
Discuss the idea of the commons and describe the tragedy of the commons. At what point do you think more areas should be designated as commons land? Isn’t the earth itself a common area that we all share?
what is an example of a human made, renewable resource which is subject to the tragedy...
what is an example of a human made, renewable resource which is subject to the tragedy of the commons? Has this been solved? If so how?
Explain what aspect of the tragedy of the commons problem is similar to that of a...
Explain what aspect of the tragedy of the commons problem is similar to that of a positive externality.
Briefly explain an appropriate government responses to avoid the Tragedy of the Commons.
Briefly explain an appropriate government responses to avoid the Tragedy of the Commons.
The parable called the Tragedy of the Commons applies to goods and services such as Group...
The parable called the Tragedy of the Commons applies to goods and services such as Group of answer choices police protection and cable TV. tornado sirens and medical research. grazing land and fishing. antipoverty programs and national defense.
A. Define a common resource, and name one example of a common resource located in Arizona....
A. Define a common resource, and name one example of a common resource located in Arizona. B. Explain what problem prevents efficient use of common resources. C. List all methods for dealing with “the tragedy of the commons” that are discussed in the textbook. D. Briefly discuss one of the methods for dealing with “the tragedy of the commons.”.. Please use text to exlpain.
Tragedy of the Commons Question Public roads that are government-funded are used only by the private...
Tragedy of the Commons Question Public roads that are government-funded are used only by the private parties that drive on them but are paid for by taxpayers in common, whether or not those taxpayers use the roads or not. So the cost of the roads should only be borne by the private parties who use the roads.
1) Renewable Resources Explain what the tragedy of the commons refers to and use a graph...
1) Renewable Resources Explain what the tragedy of the commons refers to and use a graph to illustrate why it happens. 2) Understanding the Economics of Acid Rain Explain why the government did “The Right Thing for The Wrong Reason” in the context of SO2 Allowance Trading. 3) Energy Paradox When looking at potential win-win actions that could reduce carbon dioxide, many analysts talk about the energy paradox or energy-efficiency gap interchangeably. Explain the distinction between the two concepts, and...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT