What does the phrase 'tragedy of the commons' mean?

BUS 240 Chapter 1 Business Ethics and Sustainability

Quiz
•
Business
•
University
•
Easy
Leigh Cox
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15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Overuse of shared resources
A successful business strategy
A type of economic model
A form of government regulation
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who coined the phrase 'tragedy of the commons'?
Adam Smith
Garrett Hardin
John Locke
Karl Marx
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it in the best interest of business to be sustainability minded?
To increase short-term profits
To ensure long-term viability
To avoid taxes
To reduce employee turnover.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it important to have some regulations in place for business?
To limit competition
To protect consumers and the environment
To increase bureaucracy
To reduce innovation
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Would it be advisable to have a completely deregulated business environment? Why or why not?
Yes, it encourages innovation
No, it can lead to exploitation
Yes, it reduces costs
No, it increases competition
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Describe what a carbon footprint is and why it is important to business and ethics.
A measure of carbon emissions
A type of business strategy
A government policy
A financial metric
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The 'tragedy of the commons' refers to the _______ of shared resources.
conservation
overuse
privatization
regulation
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