Question

There are two answer already posted up on this website please do not copy and paste from one of those I can not use those, Please help I have posted this before but all I get is a copy paste, Please no less then 3 paragraphs the more the better THank you for your help and I will rate well.

Select a familiar or local Common Resource or Public Good (see text for examples to consider). Assess the existence of free riders, externalities, cost-benefit analysis, likelihood of a “Tragedy of the Commons” issue, etc. Evaluate the controls currently in place to protect or maintain the resource/good Discuss the sustainability or need for change of the current status.

Answer 1

Good chosen: District parks

Explanation: District parks are a common resource public good provided by the government for the people in a particular district

Since these parks lack ownership by any party as such, there is a tendency of people to make maximum use of it without taking any care of it. They will tend to use these parks for recreation activities and would throw garbage in it without taking any pains to get it cleaned. This behavior by most of the people is known as the tragedy of commons, as it leads to degradation of the park quality and environment. Lack of well defined property rights also creates a problem of free riding, as no household is willing to give up money to get it all cleaned. This dirty mess in the park imposes a negative externality on the people and hence leads to overproduction or degradation of parks.

Currently, there are no controls in place on such parks, however it is the need of the hour to implement any such one. The people in the district must be mandated to pay a certain fixed amount every month or year towards park maintenance so that these parks are cleaned by the government or any third party regularly and all negative externalities are taken care of and the outcome is a sustainable one.