Question

The tendency of a shared, limited resource to become depleted because people act out of self interest for short-term gain is generally referred to as _______.

Answer 1

Answer: The tragedy of the common

Step-by-step explanation:

The Tragedy of the common is refers to the situation in which the limited shared resources are depleting because of the self interest to the short term gain by the collective action.

The main objective of the tragedy of the common is that is deals with the economic theory as it is the problem which occur due to the over use in the resources and the high demand supply of the resources in the market.

It basically describe us that the how people can freely use the resources without concern about the resources used by the future generation. Therefore, The tragedy of the common is the correct answer.