Tragedy of the commons definition and example

• A. Tragedy of the commons occurs when a private owner overuses resources due to exclusive rights.
• B. Tragedy of the commons is a market failure due to perfect competition.
• C. Tragedy of the commons is overuse of a common resource due to lack of exclusive property rights; example: overfishing.
• D. Tragedy of the commons results from government ownership causing inefficiency.

Answer: (C)