Economics · Environmental Economics
The situation where a common-pool resource with open access is degraded due to over-exploitation beyond its carrying capacity is known as:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Negative network externality
- 2Displacement effect
- 3Tragedy of the Commons✓
- 4Market failure due to information asymmetry
Correct answer
Tragedy of the Commons
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