Why Does the Tragedy of the Commons Occur

question 112

Multiple Choice

Why does the Tragedy of the Commons occur

• A)Government property is most heavily used by the wealthy.
• B)Everyone deserves an equal share of government property.
• C)Social and private incentives differ.
• D)Established property rights create competition.

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Definitions:

Denominated

Specified or expressed in terms of a particular currency or unit of measurement.

Speculate

To engage in a financial transaction with a high risk of losing value but also the potential for substantial gains.

Exchange Rates

The value of one currency for the purpose of conversion to another, indicating how much one currency is worth in terms of another.

Foreign Currency

Money or other forms of payment used in international trade that are issued by foreign governments.