Which of the following is the best example of a tragedy of the commons?

• A. A government providing free education to all citizens
• B. Overfishing in a public lake leading to depletion of fish stocks
• C. A company polluting its own private land
• D. A person enjoying a fireworks display without paying for it

Answer: (B)

Verified step by step guidance

1. Step 1: Understand the concept of the 'tragedy of the commons'. It occurs when individuals, acting independently according to their own self-interest, overuse and deplete a shared resource, leading to long-term collective loss.
2. Step 2: Analyze each option to see if it involves a shared resource that is overused or depleted due to individual actions without proper regulation or ownership.
3. Step 3: For 'government providing free education to all citizens', recognize that education is not a depletable common resource in the same way; it is more of a public good, so this is not an example of tragedy of the commons.
4. Step 4: For 'a company polluting its own private land', note that the land is privately owned, so the tragedy of the commons does not apply because the owner bears the cost directly.
5. Step 5: For 'a person enjoying a fireworks display without paying for it', this is an example of a free-rider problem, not a tragedy of the commons, because it involves non-excludability but not depletion of a shared resource.