The Tragedy of the Commons Is an Example Of

question 71

Multiple Choice

The tragedy of the commons is an example of:

• A)efficiency gained through operation of the invisible hand.
• B)a smart-for-one,dumb-for-all situation.
• C)increasing marginal costs.
• D)comparative advantage and specialization.

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Definitions:

Feigned Scarcity

An artificial limitation of available products or services to incite demand through a sense of urgency.

Social Influence Technique

Strategies or methods used to change or influence individual or group behaviors, beliefs, or attitudes, utilizing principles of persuasion, conformity, and social norms.

Limited Supply

A situation where the availability of a product, resource, or commodity is not sufficient to satisfy the demand for it.

Limited Time

A situation or condition where there is a restricted duration available to complete a task or achieve an objective.