Explain the concept of tragedy of the commons.

Explanation could include

definition of tragedy of the commons
description of how an individual's use of natural resources affects others and the ways that use of natural resources can be regulated
effects of overgrazing, soil erosion, and renewable and non-renewable resource usage.

What are some examples of tragedy of the commons?
How can use be regulated?
How does tragedy of the commons explain current challenges in the economy?
What is the current legislation regarding conservation as it relates to tragedy of the commons?
What is one’s responsibility when using natural resources?