When People Act in Their Own Immediate Self-Interest and Overuse

question 176

Multiple Choice

When people act in their own immediate self-interest and overuse scarce resources, ecologist Garrett Hardin referred to this situation as

• A)the tragedy of the commons.
• B)the greenhouse effect.
• C)collective social trapping.
• D)groupthink.

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Definitions:

Consumption Patterns

The typical manner in which individuals or groups buy, use, and dispose of goods and services over time.

Personal Selling

A direct form of marketing where salespeople interact face-to-face with customers to promote and sell products or services.

Discontinuous Innovation

Innovations that represent a significant departure from existing practices and often create new markets or transform existing ones.

Normal Routine

Typical daily activities or procedures followed by an individual or organization.