sapling learn In an economic context, what is the \"tragedy of the commons The o

Question

sapling learn In an economic context, what is the "tragedy of the commons The observation that cattle production can be associated with negative externalities. The idea that a few very wealthy individuals control a majority of economic resources while average people have far fewer resources. The idea that people overuse or misuse a resources when property rights are not clearly defined. The observation that educational attainment and income are O determined largely by the educational attainment and income of a person's parents Which scenario best characterizes the tragedy of the commons? Observation of widening income equality evidenced by a growing Gini coefficient. A group of farmers that forms a collective to coordinate pricing ecisions. o Users of a shared shower in a dorm allowing the shower to get nasty by failing to it often enough. observation that cattle contribute to climate change by emitting methane Map

Explanation / Answer

Answer 1:

Option C. In the problem of Tragedy of Commons, it is the lack of property rights that lead to the problem of overuse or over exploitation of the natural resources.

Answer 2:

Option C. This example clearly shows that the shower is being overused.

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