Question

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.

Answer 1

Answer: grazing land and fishing

Tragedy of the commons are applicable for non-excludable and rival resources. This should in a form that if one consumes, it will take away the opportunity of the others. Overconsumption of these resources will lead to negative externality.

Grazing land and the fishing area are considered as the common resources. The grazing of cows from one family reduces the food for other cows. So, there arises the criteria of how many sheeps a family should own. This encourages everyone to have cows and reduces the negative externality. Fishing areas are common for everyone and one fisherman baiting more number of fishes reduces the fish population and so, there is control on the quantity of fishes to be harvested each day.