Economics and Resources - AP Environmental Science

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Question

Which of the following would be an example of the Tragedy of the Commons?

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Answer

Tragedy of the Commons by definition is when individuals act in their own interest towards a common resource (fish, timber, buffalo, etc.) which, when done by everybody, is not in the best interest of conservation. The result is maximized short-term profit for all parties but also depletion of the resource.

The decline of the New England cod fishery was due to many individuals harvesting for their own personal profit with no consideration toward the collective impact on the fish population, and the result was a population decline that has yet to recover.

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