Tragedy of the commons is a problem ofopen-access resources. Commons is basically the resource the no one else ownedor a resource that is un-owned. Obviously, there would be people who would wantto use the resource. Some people are self-interested that they want to use theresource for their own purposes. For example were those fishermen who haveabusively done fishing in their pond that causes for them to starve and losethe population of the fishes in the pond. Tragedy of commons is anothersignificant case study in business standards generating an enormous amount ofdiscussion among business ethicists, some economists, government law expertsand others.
This problem occurs because each user receives explicit benefits ofusing the resource but only bears a fraction of the cost of its exploitation.