The Tragedy of the Commons

question 156

Multiple Choice

The Tragedy of the Commons

• A)occurs most often with public goods.
• B)is only applicable to shared grazing rights among sheep herders.
• C)is eliminated when property rights are assigned to individuals.
• D)occurs when social incentives are in line with private incentives.

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Definitions:

Peter Senge

A systems scientist and senior lecturer at MIT, known for his work on learning organizations and the author of "The Fifth Discipline."

Self-Interest

An individual's actions and decisions guided by personal gain or benefit, often considered a motivating factor in economic theory.

Learning Organisation

A type of organization that actively seeks to acquire knowledge and adapt to change effectively through continuous improvement and employee engagement.

Continuous Improvement

An ongoing effort to enhance products, services, or processes to increase efficiency and quality.