Econ 101 Writting assignment
This video is about the tragedy of the commons:
After watching the video, answer the following questions:
What do these economists mean when they sing, “Good for me, good for you, bad for us?”
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.
Grading Rubric
Please include your name, instructor’s name (Josh Tibbitts), course and section number (EconS 101), and writing assignment (Assignment 4) on the top of your assignment.
Your essay will be assessed as either ‘Meets expectations’ or ‘Needs improvement’ on each of the criteria in the table below.If your essay needs improvement, you will be given feedback from NetTutor to help you revise it.You have one week from the time you receive your feedback to revise and re-submit the essay to NetTutor for another try – but you only get one second chance. You’ll need to accumulate three acceptable writing assignments to fulfill the writing portion of the course requirements.
Solution Preview
The Tragedy of the Commons
- What do these economists mean when they sing, “Good for me, good for you, bad for us?”
The tragedy of the commons refers to a situation where people in the economy act to fulfill their self-interests without caring about the welfare of the entire economy. Commons in this case relates to the pool of resources that are shared among individuals. The tragedy then occurs when individuals consume the resources from the shared pool and eventually leading to depletion.
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