Studied by 0 people
Looks like no one added any tags here yet for you.
What is the "Tragedy of the Commons"?
It is the depletion of a shared resource by individuals acting in their self-interest, despite it being contrary to the group's long-term interests.
Name examples of common resources.
Clean air, forests, open ocean and its fish, migratory birds, Antarctica, ozone, and space.
What are externalities?
Externalities are costs or benefits of a good or service that are not included in the purchase price of the product or service.
Why are negative externalities a concern in environmental science?
Because they lead to environmental damage for which no one bears the cost, such as pollution.
