Y1 27 Tragedy of the Commons

Question 1

What is a common access resource?

Answer 1

A resource that all can use freely e.g forests,the sea, air

Question 2

What is the tragedy of the commons

Answer 2

Consumers/Producers act only on private interest and overuse good until depletion

Question 3

Who loses out in tragedy of commons

Answer 3

Future generations
Those who do not also exploit the resource
Current generation if resource depletes very quickly (income fall)