Assignment:
This video is about the tragedy of the commons:
https://www.youtube.com/watch?v=fNhr2RNhw5w&feature=related
After watching the video, answer the following questions:
1. What do these economists mean when they sing, "Good for me, good for you, bad for us?"
2. Common pool resources considered in the video include pasture (forage), fisheries, and atmosphere. Explain what the specific problem is for each resource and identify some ways that society has tried to mitigate the problems of that common resource.