Goods that come under the purview of "tragedy of commons" are (i)______ and (ii)______.
Which one of the following combinations of (i) and (ii) makes the above sentence correct as per the economic theory?
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1 mark, −0.333MicroeconomicsMarket failure, externalities and public goodsCommon-pool resources and the tragedy of the commonsModerateabout 2 min
GATE 2026 Question 39: Market failure, externalities and public goods
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Market failure, externalities and public goods has come up 114 times in 7 exams since 2006.
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This question is on Common-pool resources and the tragedy of the commons, part of Market failure, externalities and public goods in Microeconomics.
Overuse of resources that anyone can access, and the policies that limit it.
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