In Which of the Following Cases Does the Tragedy of the Commons

question 33

Multiple Choice

In which of the following cases does the tragedy of the commons occur? i. Cattle grazing on private farms.
Ii) Catching lobsters off the coast of Tasmania.
Iii) Raising salmon on salmon farms.
Iv) Using legal services provided by the courts.

• A) ii and iii
• B) i and iv
• C) i and iii
• D) ii only
• E) i only

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Definitions:

Purchases Journal

A special accounting journal used to record all purchases of merchandise, supplies, or other items on credit.

Cash Payments Journal

A bookkeeping ledger in which cash payments are recorded, showing outflows of cash.

Office Supplies

Items used in an office for daily operations, including stationary, paper, and other consumables.

Computerized Accounting System

A software system that facilitates the management of financial transactions and accounting tasks, streamlining processes such as ledger maintenance, journal entries, and financial statement generation.