SCIENCE
ENVIRONMENTAL SCIENCES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -The tragedy of the commons is a problem in economics that occurs when individuals neglect the well-being of society in the pursuit of personal gain. This leads to over-consumption and ultimately depletion of the common resource, to everybody’s detriment.
Detailed explanation-2: -The tragedy of the commons refers to a situation in which individuals with access to a public resource (also called a common) act in their own interest and, in doing so, ultimately deplete the resource. This economic theory was first conceptualized in 1833 by British writer William Forster Lloyd.
Detailed explanation-3: -Deforestation: Overexploitation of the earth’s forest has had enormous consequences on the environment. Animal extinction: Overfishing and overhunting are examples of a common pool resource being depleted by individuals acting in their own self-interest. More items •12-Oct-2022