what is tragedy of commons?
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The tragedy of the commons is an economics problem in which every individual has an incentive to consume a resource, but at the expense of every other individual --
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The tragedy of the commons is a problem that occurs when individuals exploit a shared resource to the extent that demand overwhelms supply and the resource becomes unavailable to some or all. ... Non-renewable resources, such as water, are often used as if the supply were limitless.
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